Elon Musk recently expressed a diminished focus on cryptocurrency, stating in a conversation with Ark Invest CEO Cathie Wood that he spends hardly any time thinking about it.
Musk emphasized contemplating the nature of money, viewing it as a database for resource allocation.
He acknowledged fiat currency's adequacy in this role, given a rules-based system with minimal government abuse.
Musk likened the money system to an information system, advocating for minimizing noise, latency, and packet loss, with inflation seen as introducing noise.
Despite Musk's reduced emphasis on cryptocurrency, Tesla still holds digital assets, including significant bitcoin holdings and acceptance of Dogecoin for payments.
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