Tesla CEO Elon Musk Says U.S. Government Should Avoid Regulating Crypto
Tesla CEO Elon Musk on Tuesday said the U.S. government should steer clear of trying to regulate the crypto market.
“It is not possible to, I think, destroy crypto, but it is possible for governments to slow down its advancement,” Musk said at the Code Conference in Beverly Hills, California.
“I would say, ‘Do nothing,’” he said.
Tesla said early this year that it had purchased $1.5 billion worth of bitcoin. The value of those holdings swelled to about $2.5 billion in the second quarter as bitcoin prices surged. Bitcoin has since dropped, along with other cryptocurrencies.
Source: CNBC
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