Fun

Elon Musk Praises Reports on Latam Common Digital Currency: ‘Probably a Good Idea’

News Feed - 2023-01-25 04:01:43

Elon Musk Praises Reports on Latam Common Digital Currency: "Probably a Good Idea"


Elon Musk, CEO of Twitter, SpaceX, and Tesla, has given his opinion about the latest reports on the creation of a common currency in Latam, to be initially worked on by Argentina and Brazil. Musk stated that this move would be “probably a good idea,” commenting on the topic on social media. Elon Musk Gives His Take on Latam Common Currency


The latest reports that Brazil and Argentina will start to study the issuance of a common currency for Latam have already caused reactions all over the world. Elon Musk, CEO of Twitter and Tesla, has recently given his appreciation when it comes to the issuance of such a currency, that would come to create a common economic area for the countries of Latam.


Answering a tweet that stated other nations in Latam would be invited to join the plan to create the second-largest currency union behind the European Union, Musk stated: Probably a good idea.


Minister of economy of Argentina, Sergio Massa, warned that this discussion would be just one of the first steps in the construction of the currency that is being preliminarily called “sur,” and that it might take some time for this initiative to be completed. The purpose of this currency would be to undermine the strength of the U.S. dollar in the region. Distrust in the Dollar


There have been several personalities that have been predicting the fall of the U.S. dollar as a personal and world reserve currency, calling individuals to abandon fiat money and invest in more sound alternatives. Robert Kiyosaki, the author of the book Rich Dad Poor Dad, has been alerting his followers about this since some time ago, stating that the U.S. dollar was “toast,” as Saudi Arabia manifested its intention of joining BRICS in October. Also, Kiyosaki recommended buying bitcoin to avoid the crash of the dollar, that according to his opinion, would occur by January 2023.


In March, Musk made recommendations on social media for his followers on inflation rates and how he believes in dumping dollars to acquire physical assets.


Musk explained: As a general principle, for those looking for advice from this thread, it is generally better to own physical things like a home or stock in companies you think make good products, than dollars when inflation is high.


Furthermore, Musk clarified that he would not sell his bitcoin or dogecoin at that moment. Tags in this story Argentina, Brazil, brics, common currency, Elon Musk, latam, robert kiyosaki, Sergio Massa, Tesla, U.S. dollar


What do you think about Elon Musk’s take on the reports about the issuance of a Latam common currency? Tell us in the comments section below. Sergio Goschenko


Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved. Quicknode Raises $60 Million in Series B to ‘Fuel Blockchain Adoption’ and Expand Globally NEWS | 15 hours ago Washington Townhome Tied to Disgraced FTX Co-Founder Listed for $3.28 Million Amid Controversy and Bankruptcy NEWS | 17 hours ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleMPC Wallet Development: Antier’s Stunning Take on Building Super-Secure Crypto Products Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItSEC Risks Violating Admin Procedure Act by Rejecting Spot Bitcoin ETFs, Says Grayscale


Grayscale Investments" CEO explains that the U.S. Securities and Exchange Commission (SEC) could potentially violate the Administrative Procedure Act by not approving a spot bitcoin exchange-traded fund (ETF). SEC Approving Spot Bitcoin ETF Is "a Matter of When and Not ... read more.Bitcoin ATM Operator Indicted in New York Allegedly Running Illegal Business Attracting Criminals Argentinian Securities Regulator Launches Innovation Hub to Discuss Regulated Crypto Investments Digital Ruble ‘Much Needed,’ Russia’s Central Bank Says, Won’t Delay Testing Ethereum Foundation"s Financial Report Discloses It Holds $1.6 Billion in Assets, 80.5% Held in Ether

News Feed

Bitcoin Trader Robbed During an In-Person Transaction, Kicked Out of Car in Hong Kong
Bitcoin Trader Robbed During an In-Person Transaction, Kicked Out of Car in Hong Kong An unnamed 37-year-old man was a victim of a theft from a gang of robbers w
Digital Commodity Exchange Act of 2020: US Lawmakers Propose Single National Crypto Framework
Digital Commodity Exchange Act of 2020: US Lawmakers Propose Single National Crypto FrameworkLawmakers in the U.S. have introduced the Digital Commodity Exchange Act of 2020 to crea
Solana Struggles to Remain in the Top 20 as Prior Ties to FTX and Alameda Wounded the Project
Solana Struggles to Remain in the Top 20 as Prior Ties to FTX and Alameda Wounded the Project Amid the market chaos within the crypto economy and following the climactic FTX collap
David Attlee59 minutes agoUS Anti-CBDC bill moves a step closer to passingThe “CBDC Anti-Surveillance State Act,” aimed at preventing the Federal Reserve from issuing a central bank digital currency, has passed the H
Decentralized Crowd Funding Platform Rocket Launchpad Launches in the Tezos Ecosystem
Decentralized Crowd Funding Platform Rocket Launchpad Launches in the Tezos Ecosystem press release Press Release:Rocket Launchpad is launching a Tezos-based IDO
Bitcoin, Ethereum Technical Analysis: Crypto Prices Fall Lower as Markets Continue to Digest Biden’s Executive Order
Bitcoin, Ethereum Technical Analysis: Crypto Prices Fall Lower as Markets Continue to Digest Biden"s Executive Order Less than 24 hours after U.S. President Biden’s executiv
Ana Paula Pereira8 hours agoSam Bankman-Fried goes on trial: A week in reviewThe trial of former FTX CEO Sam Bankman-Fried started on Oct. 3. Four witnesses explained to jurors how $8 billion in customer funds went missi
Brayden Lindrea5 hours agoEthereum staking services agree to 22% limit of all validatorsThe 22% self-limit rule ensures at least four major staking entities would need to collude in order for the chain to reach finalizat
MetaGods Raises $3M Investment to Develop Play-to-Earn 8-Bit Action RPG
MetaGods Raises $3M Investment to Develop Play-to-Earn 8-Bit Action RPG press release PRESS RELEASE.MetaGods, the world’s first play-to-earn 8-bit action role-playing game bu
Solana struggles to recapture $200, but DApp and derivatives markets remain bullish
Marcel Pechman3 hours agoSolana struggles to recapture $200, but DApp and derivatives markets remain bullishSOL price struggles to rally above $200, but on-chain and derivatives metrics point to a healthy market.1142 Tot
Ana Paula Pereira7 hours agoEU blockchain sandbox unveils first 20 use cases after wave of applicationsAccording to the European Commission, 20 projects have been selected in the first cohort to receive legal advice and
XRP Bulls Struggle To Break Key Resistance At $2.2546: What’s Next?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu