(Reuters) - 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.

"However, when fiat currency has negative real interest, only a fool wouldn't look elsewhere," Musk said in a tweet. "Bitcoin is almost as bs as fiat money. The key word is 'almost'."

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.

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.

Bitcoin was steady just below a record peak of $51,284 on Friday.

(Reporting by Aishwarya Nair and Shubham Kalia in Bengaluru; Editing by Sam Holmes)

https://finance.yahoo.com/news/elon-musk-says-bitcoin-slightly-050334485.html?guccounter=1

Innovator Elon musk spoke well here.

That one no be for Nigeria na.. cash is better here

Crypto price manipulator!

As always I will tell people to only invest what you can afford to lose in crypto, this market is dangerous and have been taken over by whales in many whatsapp and telegram groups. I once believed that bïtcoin and other major coins can't be manipulated but i saw it happen in my clear eyes. Pls if you are hypertensive stay away from this dangerous game. Elon Musk have been know to be good at creating FOMO's and at the end those that followed his voice always get their finger burnt, to him this is just a game.

SUPERPACK:
As always I will tell people to only invest what you can afford to lose in crypto, this market is dangerous and have been taken over by whales in many whatsapp and telegram groups. I once believed that bïtcoin and other major coins can't be manipulated but i saw it happen in my clear eyes. Pls if you are hypertensive stay away from this dangerous game. Elon Musk have been know to be good at creating FOMO's and at the end those that followed his voice always get their finger burnt, to him this is just a game.

wrong post. his shareholders are now silent millionaires now.