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Elon Musk Named Time’s Person of the Year, Says Crypto Unlikely to Replace Fiat
The Tesla CEO said he finds cryptocurrency interesting and can talk endlessly about the concept of money.
Time Magazine named Elon Musk its Person of the Year for 2021 on Monday, and in an interview with the publication the world’s richest person said he “doubts that crypto will replace fiat currency.”
- Time called 2021 “the year of Elon Unbound,” given the many notable statements, actions and accomplishments of Musk, the CEO of Tesla and SpaceX.
- Musk said he finds cryptocurrency interesting and can talk endlessly about the concept of money as “an information system for resource allocation.” But he said he doubts that crypto will replace fiat currency.
- Musk recently made it on CoinDesk’s Most Influential list because of his outsized influence, both positive and negative, on crypto in 2021 – specifically on the price of bitcoin and dogecoin.
- Regarding this often-criticized influence, Musk told Time that “markets move themselves all the time … based on nothing, as far as I can tell. So the statements that I make, are they materially different from random movements of the stock that might happen anyway? I don’t think so.”
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Read more: Most Influential 2021: Elon Musk - CoinDesk
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
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