Elon Musk Predicts Paper Money Will Be Replaced By Crypto And Praises Bitcoin

Bitcoin and crypto price predictions have flooded the cryptosphere this year. 2018 was not the best year for digital currencies, and experts have been hoping that 2019 could eventually trigger bulls and mass adoption.

The co-founder of the crypto mining pool Poolin makes a bullish prediction for the number one crypto.

8BTC reported that Zhy Fa said that he believes the next bull run will push the price of BTC somewhere between $74,000 and $740,000.

More than that, Tim Draper has recently said that people are risking their money by keeping them in banks and he also sees a future where crypto will be replacing fiat.

He also said that only criminals would be using fiat because Bitcoin and crypto will become completely traceable.

Elon Musk predicts crypto will replace fiat

In a new podcast titled “On the Road to Full Autonomy With Elon Musk,” he agrees that the financial system is on the verge of a revolution.

“Paper money is going away. Crypto is a far better way to transfer value than pieces of paper, that’s for sure,” he said.

Despite Musk’s prediction, however, it still seems that there are no crypto plans for Tesla.

He also shared his general thoughts on Bitcoin and the blockchain tech, as reported by the Daily Hodl.

“I think the Bitcoin structure is quite brilliant, and it seems like there’s some merit to Ethereum as well. But I’m not sure it would be a good use of Tesla resources to get involved in crypto,” he said among others.

Musk has been working for many years at Tesla doing his best to optimize safety, speed and energy consumption as well.

It seems that one of his most significant concerns regarding Bitcoin is crypto mining.

You should check out the complete podcast in order to hear everything he has to say.

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