I think the richer you are the less you know about bitcoin since it has no appeal to you, it offers you nothing, you don’t need it, so you don’t desire to understand it. Meanwhile some poorer people (or more middle class idk) are actually interested in it. This explains Elon musk inability to understand why bitcoin specifically, of all tokens, is the superior allocation at the moment. Elon simply is not in touch with any actual market. He exists removed from the market networks, people buy things for him and he has purchasing managers, he doesn’t interface with any of the actual monetary networks. He doesn’t buy things he doesn’t sell things, people buy and sell things for him, so he simply does not understand much about money.

The understanding of markets is something that eludes many highly intelligent people, it’s not something we should’ve ever expected Elon musk to understand. His perspective isn’t one where he would see the appeal of bitcoin. To him it’s arbitrary essentially because he’s not familiar with how money really works. He’s highly intelligent, it’s just that his intelligence is focused on things like physics engineering and coding, not markets or investing or resource management or resource efficiency. His money comes from his family who made their money mining. He’s an industrialist, he’s very good at what he does, and what he does is running factories. He’s not someone who understands monetary networks. In his eyes, I think, money is made by making things. Not by investing. This explains his sort of irrational and hard to understand/explain investment habits. He’s just not an investor or finance guy. He’s a.. maker of objects. He deals with 3 dimensional meat space not strategic resource allocation. He’s good at what he does his lack of precision in this area isn’t a character flaw he’s just human. But I will say he’s selfish and we’ve all been seeing that very clearly lately.