Errol Musk called cryptocurrency a unique new way of trading

Cryptocurrencies, including memcoins, are a very smart concept and a new way of trading. This opinion was expressed on March 31 by the father of American entrepreneur and businessman Elon Musk, Errol Musk, answering a question from Izvestia.

"This is an exciting new way of trading. This is an exciting new way for people to invest. And it's an exciting new way to add value to things that we didn't previously consider valuable," said Musk Sr.

He also recalled the tokenization of water in a number of countries where it is a scarce resource. According to Musk, this is a good idea and a wonderful thing that has appeared due to the new speed of communication.

Cryptoshock: what is behind the collapse of Bitcoin and the crisis of trust

The fall in the value of the first cryptocurrency caused panic in the market

Alexander Baryshnikov, the manager of the Mining fund at Record Capital Management Company, said yesterday that bitcoin had dropped to $65,000 in the morning, but had risen to $67,946 since the opening of traditional markets. At the same time, the dynamics remains unstable and is largely determined by external factors, including geopolitical signals. The expert added that the fundamental conditions are not yet conducive to the steady growth of cryptocurrencies.

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