As global regulators keep to scrutinize the cryptocurrency manufacture, Tesla CEO Elon Musk has expressed back up for crypto, calling it indestructible.

"Information technology is non possible to, I think, destroy crypto, merely it is possible for governments to slow down its advancement," Musk said at the Code Conference in California, CNBC reported Tuesday.

According to the Tesla CEO, the decentralized nature of cryptocurrencies may be a challenge for the Chinese government, which announced a new war on crypto terminal Friday.

"I suppose cryptocurrency is fundamentally aimed at reducing the ability of a centralized government," Musk noted, adding, "They don't like that." He also suggested that the latest Chinese crackdown on crypto is likely to have something to do with the country's "meaning electricity generation issues."

"Role of it may actually exist due to electricity shortages in many parts of China. A lot of S Communist china right now is having random power outages because the ability demand is higher than expected [...] Crypto mining might be playing a role in that," he said.

Despite Musk not considering himself as a "massive cryptocurrency expert," the tech mogul stressed regulators should not exist trying to slow down cryptocurrency adoption. When asked whether the United States regime should be involved in regulating crypto, Musk responded:

"I would say, 'Exercise nothing.'"

Related: Dogecoin more popular than ever... even as TXs hit lowest level since 2022

Musk has emerged as a meaning crypto price influencer on Twitter, with many experts linking his posts to massive cost movements for tokens such every bit Shiba Inu (SHIB), Dogecoin (DOGE), besides as Bitcoin (BTC). The Tesla CEO was widely criticized in the crypto community after suspending Tesla'southward BTC payments selection over presumed environmental concerns nearly Bitcoin mining in May 2022.

Musk previously caused massive optimism on the crypto market past announcing a $1.5-billion Bitcoin buy in Feb.