Elon Musk on the future of cryptocurrency: Bitcoin is a store of value, not a transactional currency When discussing the long-term development of cryptocurrency, Musk bluntly stated that not many people truly understand the essence of 'money.' Using Bitcoin as an example, he pointed out that while Bitcoin holds significant pioneering importance in the crypto ecosystem, its limited transaction volume and high per-transaction cost make it unsuitable as a high-frequency transactional currency from both a design and practical usage perspective. Musk believes that, at its most fundamental level, Bitcoin is closer to a store of value or an asset allocation option, rather than a currency form for everyday payments. In contrast, he mentioned that although Dogecoin was initially created as a joke, it is actually more practical in terms of transaction efficiency and payment use cases.