Elon Musk Says Bitcoin ‘Almost as BS’ as Regular Money after Tesla Buys Cryptocurrency

Elon Musk Says Bitcoin ‘Almost as BS’ as Regular Money after Tesla Buys Cryptocurrency

Elon Musk has said Bitcoin is "almost as BS" as regular money after his company Tesla purchased $1.5 billion worth of the cryptocurrency.The entrepreneur's comments came after Changpeng Zhao, CEO of the Binance trading platform, said he was "surprised" Musk was so "gung-ho" about Dogecoin—another form of cryptocurrency widely regarded as a joke. Both Bitcoin and Dogecoin have rallied to record highs this year, after tweets from high-profile figures including Musk, U.S. rapper Snoop Dogg, and Gene Simmons of glam-rock legends Kiss.

Speaking to Bloomberg Asia on Friday, Zhao said: "I'm surprised Elon is so gung-ho on Dogecoin but I think, look, this is the decentralized free world, right? Anybody can like anything, he can like Dogecoin for any reason he likes."I strongly believe that he's not really associated with Dogecoin in any way. Dogecoin is one of those coins that started as a joke, but it's getting a lot of popularity over time, just for various reasons that nobody expected."So I think Elon really likes it. The fact, though, is that Tesla bought Bitcoin, not Dogecoin."Musk took to Twitter to address Zhao's comments. Addressing his support of cryptocurrencies, the billionaire wrote: "To be clear, I am not an investor, I