Tesla CEO Elon Musk voiced his support for cryptocurrencies over fiat money on Saturday, saying that he prefers crypto. The statement pushed bitcoin prices higher. “The true battle is between fiat and crypto,” Musk said in response to a Twitter user asking the billionaire what he thinks about people who are “angry at him because of crypto.” Musk added: “On balance, I support the latter.” Fiat money is a government-issued currency that is not backed by a commodity. The true battle is between fiat & crypto. On balance, I support the latter.— Elon Musk (@elonmusk) May 22, 2021 The price of bitcoin rose to over $38,370
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