Elon Musk effect – bitcoin hits a high price $60.000,00

Home » Elon Musk effect – bitcoin hits a high price $60.000,00

Tech Moghul Elon Musk, who has been very active tweeting about cryptocurrencies for some time now, said on Saturday that bitcoin's price appeared high.

Musk's comments come after Bitcoin's total market value surpassed $ 1 trillion for the first time on Friday, according to data from CoinDesk.

The leading cryptocurrency hit an all-time high of $ 57,492 in the past 24 hours, the data shows.

The chief executive of Tesla Inc., who said earlier in the week that he found the prospect of holding bitcoin an adventure for the S&P 500 company, said in a Twitter post, “Money is just data that allows us to avoid the inconvenience of bartering. . “

In response to crypto skeptic and gold bug Peter Schiff, Musk said that “BTC & ETH does seem high.”

Schiff argued that gold is “real money” and better than Bitcoin and fiat currencies.

“Email that says you own gold is not the same as owning gold. You might as well own crypto, “Musk said in a tweet on Saturday.

“Money is just data that allows us to avoid the inconvenience of bartering. This data, like all data, is subject to latency and errors. The system will evolve to a system that minimizes both, “he added.

Earlier this month, Musk's electric vehicle company Tesla revealed that it had invested $ 1.5 billion in Bitcoin, which led to a surge in cryptocurrency prices.

The electric carmaker added that they will also “start accepting bitcoin as a form of payment” for its products in the near future.

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