<p>Tesla Inc CEO Elon Musk on Thursday said that owning bitcoin was only a little better than holding conventional cash, but that the slight difference made it a better asset to hold.</p>.<p>"However, when fiat currency has a negative real interest, only a fool wouldn't look elsewhere," Musk said in a tweet. "Bitcoin is almost as bs as fiat money. The keyword is 'almost'."</p>.<p><strong><a href="https://www.deccanherald.com/business/business-news/elon-musks-spacex-raises-850-mln-in-fresh-funding-cnbc-952293.html" target="_blank">Read | Elon Musk's SpaceX raises $850 mln in fresh funding</a></strong></p>.<p>He also defended Tesla's action to invest in bitcoin, saying that the difference with cash made it "adventurous enough" for the S&P 500 company to hold the cryptocurrency.</p>.<p>Tesla's $1.5 billion bitcoin purchase set the cryptocurrency soaring toward this week's record peak above $50,000 while Musk's recent promotion of dogecoin on Twitter also lifted the price of that cryptocurrency.</p>.<p>Bitcoin was steady just below a record peak of $51,284 on Friday.</p>
<p>Tesla Inc CEO Elon Musk on Thursday said that owning bitcoin was only a little better than holding conventional cash, but that the slight difference made it a better asset to hold.</p>.<p>"However, when fiat currency has a negative real interest, only a fool wouldn't look elsewhere," Musk said in a tweet. "Bitcoin is almost as bs as fiat money. The keyword is 'almost'."</p>.<p><strong><a href="https://www.deccanherald.com/business/business-news/elon-musks-spacex-raises-850-mln-in-fresh-funding-cnbc-952293.html" target="_blank">Read | Elon Musk's SpaceX raises $850 mln in fresh funding</a></strong></p>.<p>He also defended Tesla's action to invest in bitcoin, saying that the difference with cash made it "adventurous enough" for the S&P 500 company to hold the cryptocurrency.</p>.<p>Tesla's $1.5 billion bitcoin purchase set the cryptocurrency soaring toward this week's record peak above $50,000 while Musk's recent promotion of dogecoin on Twitter also lifted the price of that cryptocurrency.</p>.<p>Bitcoin was steady just below a record peak of $51,284 on Friday.</p>