Popular crypto investor Elon Musk believes American regulators should do away with cryptocurrencies as these impact growth of the industry, Markets Insider reported.

  • Musk, in an interview, said that while it is not possible to destroy crypto, it is possible for governments to slow down growth, and they should instead do nothing and just let it fly.
  • The billionaire said he thinks there is “some value” in cryptocurrency, but it is not the “second coming of the Messiah,” as others believe, while noting that he is not a massive expert on the industry.
  • Musk, in the same interview, also said the recent crackdown in China could have been triggered by the country’s energy crisis, given the random outages due to the demand being higher than expected.

The investor has previously swayed crypto markets due to his posts on the space, sending prices of digital tokens either soaring or tumbling. BTC is up 0.42%, ETH up 0.24%, and XRP up 1.88%.