Naval Ravikant, co-founder and former CEO of AngelList, expressed on X that the monetary system has transitioned from 'natural money' like gold to 'socialist money' or fiat since 1971. Ravikant highlighted cryptocurrency as the technology poised to replace fiat with a free-market system. He emphasized that market systems are naturally competitive, suggesting that as technology advances, new forms of money will continue to emerge, challenging existing financial structures.