Published On: Wed, Aug 21st, 2019

Elon Musk shock: Musk issues bombshell prediction on future of money | City & Business | Finance

The Silicon Valley billionaire also claimed cryptocurrency is a “far better way” to transfer value than cash. Elon Musk made the comments back in February, during a podcast interview with ARK Invest on electric vehicles and self-driving cars. Musk said: “Paper money is going away and crypto is a far better way to transfer value than pieces of paper.

“That’s for sure.”

During the interview, Musk also revealed whether Tesla would become involved with cryptocurrency.

He said: “I’m not sure it would be a good use for Tesla resources to get involved in crypto.”

ARK Invest analyst Tasha Keeney asked: “Just to clarify, Tesla’s not going to start selling bitcoin anytime soon?”

READ MORE: Elon Musk confirms long awaited update is coming to Tesla cars

Musk replied: “No, we’re not.”

On Musk’s claims, one Twitter user questioned: “Useful when electronics or power is out?”

Another posted: “If you add a $DOGE payment, I’ll buy a model 3.”

More recently, Musk made another shocking prediction on his Twitter page, warning Earth has no defence against impending asteroid threats.

NASA is in the process of developing the Double Asteroid Redirection Test (DART), which aims to redirect asteroids that are in danger of colliding with Earth to protect our planet.

DART will be tested in summer 2021.

It will attempt to knock one of the Didymos twin asteroids out of orbit.

SpaceX has won a contract to assist on the project.

The contract is worth $69million (£57million).

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