[Elon Musk calls fiat currency a scam]
Tesla and SpaceX CEO Elon Musk once again shocked the financial world by calling "fiat currencies" a scam. He suggested that some scams are so common that people are unaware of them, but did not elaborate.
Fiat currency is government-issued currency such as the U.S. dollar, euro, or yen, whose value is based on the government's creditworthiness. Musk's comments reignited controversy over how cryptocurrencies challenge traditional finance.
Bitcoin supporters viewed Musk's comments as an endorsement of the digital currency, emphasizing its decentralized and anti-inflation properties.
Musk’s comments further fueled discussions about Bitcoin’s role in the financial industry. Although his original post was concise and concise, it still aroused curiosity about the view of legal currency. There is no doubt that the debate over the future shape of money will continue.
