TechFlow news, December 21 — According to The Block, Elon Musk said during an X Space conversation with Ark Invest CEO Cathie Wood that he now rarely thinks about cryptocurrency.
Responding to a question about Bitcoin's potential impact on finance, Musk stated, "I don't spend much time thinking about cryptocurrency—almost none."
Musk discussed his long-standing reflections on money and its nature, expressing the view that money is essentially a database for resource allocation. As long as it operates under rules and government abuse isn't severe, fiat currency "actually works fine as a database for resource allocation."
Musk framed monetary systems as applying information theory to the problem of money: "Think of it simply as an information system. You want to minimize noise, reduce latency, and reduce packet loss. Inflation, then, is adding noise into the system."
