Elon Musk may create his own cryptocurrency soon

San Francisco: After applying brakes on Bitcoin as a payment mode to buy Tesla vehicles, Elon Musk has now revealed that he might create his own cryptocurrency in the near future.

A Twitter user asked the Tesla head why is he not creating his own cryptocurrency. "Why not just make a crypto from scratch that does everything you want technically and has a lot of dev support and doesn't have high concentration of ownership at least initially?" a user asked Musk on Saturday. "Only if Doge can't do it. Big pain in the neck to create another one," Musk replied.

Musk has announced not to use the popular cryptocurrency Bitcoin as a payment mode to buy its electric vehicles, citing environmental harm. Musk said that the electric car maker will not sell any bitcoin and intends to use bitcoin for transactions as soon as mining moves to more sustainable energy.

(To receive our E-paper on whatsapp daily, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

Free Press Journal

www.freepressjournal.in