By Max S - Cryptocurrency Speculator - 02-10-2021
Whether you are part of the cryptocurrency trading industry/community or not, everyone knows that Elon Musk is a massive fan of investing in cryptocurrency. In saying that, we have seen a couple of side steps with the CEO of Tesla and SpaceX, as Musk previously stated that Tesla would no longer accept Bitcoin (BTC) investments until the crypto asset becomes more environmentally friendly. But ever since, we have seen Musk move forward with larger-scale crypto plans such as sending Dogecoin (DOGE) to the moon.
The CEO has proven further that he is cryptocurrency's number one fan in recent news as he stated that nothing would get rid of the industry. Since the aftermath of China's crypto crackdown, Elon Musk made a statement that if crypto could bounce back after a significant fall like that, then nothing can destroy it. When attending the Code Conference held in Beverly Hills this past week, Musk warned bank regulators that they would be wise to avoid attempting to stymie crypto development.
When Musk was questioned whether or not the US government should begin regulating the crypto sector, the CEO responded that though the government cannot destroy cryptocurrency, they could try to stifle innovation. He believes that it is impossible to kill crypto, but the government could only "slow down its advancements" with much effort. Musk further went on to say that he recommends for the US government to simply "do nothing", stating that this is the best advice he could provide.