Elon Musk has long been fan of crypto and despite many hundreds of fake Elon Musks offering free (fake) giveaways over the past year, he doesn’t actually own much of it. So Binance’s CZ has made Musk an offer – trade me a Tesla for Bitcoin:
I still don’t have much of a Tesla, let’s trade some?
— CZ Binance (@cz_binance) February 21, 2019
The conversation came about because Elon Musk replied on Twitter to a CoinDesk article. The article was reporting on a podcast where Musk said he believes bitcoin’s structure “is quite brilliant,” and that he expects that “paper money is going away… crypto is a far better way to transfer value than a piece of paper.”
One factor holding him back is the energy intensive nature of crypto mining, it’s easy to see that the extraordinary amounts of electricity used to power cryptocurrency mining rigs goes against the ethos of Tesla.
However, it’s a tantalising prospect when one of the most influential figures in crypto replies to one of the most influential figures in tech. If Elon Musk got behind crypto in a big way he could revolutionise the crypto industry – just like he has in space travel and electric cars.
And for Musk, it must be tempting to turn the banking and payment industry upside-down – most interesting than tunnelling perhaps?
Let’s watch this space.