Bitcoin rises after Musk supports crypto in battle against fiat currencies

Bitcoin rose after Musk's post to trade at around $38,150 as of 12:27 p.m. London time

Elon Musk is again tweeting about technology and cryptocurrencies, and this time he’s clear on where his support is at.

In a thread started started by Musk himself comparing magic to technology where someone asked what he thought about people “who are angry at you because of crypto,” the Tesla Inc. CEO tweeted that the “true battle is between fiat & crypto. On balance, I support the latter.”

The true battle is between fiat & crypto. On balance, I support the latter.

— Elon Musk (@elonmusk) May 22, 2021

Bitcoin rose after Musk’s post to trade at around $38,150