We all know in recent times how bitcoin has increased its worth and has gone to the top of 22000 USD. However, everyone is not happy with such things and a lot of them are against this. Elon Musk recently made a statement against this by coming forward and comparing it with fiat money.
Also, a lot of us don’t know what is fiat money, so let us take you there and make you understand this type of currency. A Fiat Money is a government-issued currency that isn’t backed by a commodity such as gold. Fiat money gives central banks greater control over the economy because they can control how much money is printed. Most modern paper currencies, such as the U.S. dollar, are fiat currencies.
Elon Musk said in a tweet: Bitcoin is almost as bs as fiat money
Bitcoin is almost as bs as fiat money
— Elon Musk (@elonmusk) December 20, 2020
