Tesla CEO Elon Musk is known as one of the fans of the digital currency Dogecoin (DOGE).
Last Tuesday, the businessman spoke at a conference in California and called on the US authorities to abandon the implementation of crypto regulation. It is impossible to destroy this industry, but states can slow down the process of its expansion.
According to Musk, the authorities should better distance themselves from the cryptosphere and give it maximum freedom. Recall that Tesla invested $ 1.5 billion in bitcoin at the beginning of 2021, then the value of the cryptocurrency controlled by the electric car manufacturer increased to $ 2.5 billion.
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Elon Musk touched upon the topic of the mining ban in China. In his opinion, due to problems with the power supply of entire provinces, the authorities of the Celestial Empire were forced to cleanse their territories from mining farms. Only in this way did Beijing manage to reduce the volume of electricity consumption.
Tesla CEO noted: "I think cryptocurrency is aimed at reducing the dominance of centralized governments, and they don't like it."