Elon Musk Named Time's 2021 'Person Of The Year', Doubting The Possibility Of Crypto Replacing Fiat

Time Magzine announced on Monday that Tesla CEO Elon Musk has been named ''Person Of The Year'' in 2021. Time called 2021 the "Year of Elon Unbound" and wrote: "The richest man in the world does not own a house and has recently been selling off his fortune. He tosses satellites into orbit and harnesses the sun; he drives a car he created that uses no gas and barely needs a driver. With a flick of his finger, the stock market soars or swoons. An army of devotees hangs on his every utterance. He dreams of Mars as he bestrides Earth, square-jawed and indomitable. Lately, Elon Musk also likes to live-tweet his poops." 

In an interview with Time, Musk mentioned that he found cryptocurrency very interesting and could talk endlessly about the concept of currency as a "resource allocation information system." But he expressed doubt that cryptocurrency will replace fiat ones.

Musk’s frequent tweets have had a huge impact on cryptocurrencies (especially the prices of Bitcoin and Dogecoin), and people’s comments on their behavior are mixed. He told Time, "Regarding this often-criticized influence, Musk told Time: "markets move themselves all the time … based on nothing, as far as I can tell. So the statements that I make, are they materially different from random movements of the stock that might happen anyway? I don’t think so."

Mary Liu

Related Articles