Errol Musk says crypto could be the future of finance, calls current system “finished”

In a recent interview with BeInCrypto Editor-in-Chief Vladimir Arkhireysky, Errol Musk (Elon Musk’s father) shared his views on crypto and traditional finance.

He argued that the current financial system has reached its limits and believes digital assets could play a major role going forward. One example he mentioned was cross-border transfers, which he described as difficult through banks but much faster using crypto.

He also said he has interacted with people in the crypto industry and has seen transactions happen directly without relying on banks.

Interestingly, despite his views, he admitted he doesn’t personally hold any crypto and still uses traditional banking.

He also claimed that Elon and Kimbal Musk together hold around 23,400 BTC, and mentioned the family previously received payments in Solana and sold at higher prices.