Tanzeel Akhtar is a reporter based in London,UK.

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.”

Read more about

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Tanzeel Akhtar is a reporter based in London,UK.

CoinDesk - Unknown

Tanzeel Akhtar is a reporter based in London,UK.