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Cryptocurrency

Cryptocurrency Cannot Be Destroyed- Elon Musk

Cryptocurrency Cannot Be Destroyed- Elon Musk

  • Tesla CEO Elon Musk has claimed that he believes that cryptocurrency can’t be destroyed by the government
  • He, however, believes that their impact can hamper the growth of Bitcoin and other digital assets
  • Meanwhile, the billionaire has warned the US government to “do nothing” to the market

Amid China’s crackdown on the cryptocurrency market, Tesla CEO Elon Musk has claimed that cryptocurrencies cannot be destroyed by the government.

Elon musk

His statement during a recent tech event in California can be seen below.

“It is not possible to, I think, destroy crypto, but it is possible for governments to slow down its improvement,”

The billionaire however believes that the progress of the crypto market can be hampered by the interference of the government.

Bitcoin mining

When questioned about what the United States government should do about these digital assets, he urged that the crypto market be left alone.

Meanwhile, the crypto market has advanced in the past few days, with the market cap surpassing $2 Trillion again.

Flagship cryptocurrency Bitcoin reclaimed the $48,000 mark, which was last attained in early September.

Cryptocurrency

Other assets to have followed the bullish movement include Ethereum, Binance Coin, Solana, and Ripple.

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