Elon Musk Said Bitcoin Has No Throat to Choke: Why Does That Matter?
A 2021 clip of Elon Musk making his case for Bitcoin (BTC) is circulating again. His main argument was not scarcity. It was that Bitcoin has no throat to choke.
He meant there is nobody to threaten. No single party can be forced to empty the system. Five years on, filings show what his own companies did with that idea.
Why Elon Musk Framed Bitcoin as an Information System
Musk spoke in July 2021 at The B Word, a one-day conference he joined alongside Jack Dorsey and Cathie Wood.
He opened by redefining money itself. He called it an information system for allocating labor.
Then he went after the plumbing. Bank settlement still takes one to five business days. He called the ACH network ancient and insecure. Paying by card, he said, is like handing a stranger your password.
Bitcoin's edge, in his telling, was not speed. It was that nobody can be leaned on.
"Bitcoin per se is mostly solving for โฆ having no throat to choke, decentralized, so there's no one who can be coerced in any way to empty their bitcoin account," Elon Musk, at The B Word conference, July 2021.
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