Elon's use of the term "crypto" shows his foggy thinkenings on the topic.
Let's not forget that Elon is basically a newb and will have newb thinkenings on the field. Worse, his position means that he has less motivation to do the research (and he is an arrogant fuck).
Also, just because he made a bunch of money skimming online fiat transactions and was able to use it to pay some smart people to build rockets and electric cars does not make him some wise sooth-sayer. One only needs to look into the hyperloop project to see the fallacy of holding that belief.
I don't really have anything against Musk but people need a reality check about what he's about.