Elon Musk – Bitcoin and Ethereum is looking Expensive

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In a tweet released about an hour ago, Elon Musk, the world’s richest man added that Bitcoin and Ethereum do seem high, raising eyebrows over the speculation of a potential rise in price.

Elon Musk who is the CEO of the world’s most valuable electric carmaker was replying to a tweet by Peter Schiff – a highly revered gold hedge fund manager that is popularly known for his strong bias against crypto assets and has always believed gold was much better than Bitcoin and fiat money.

“Money is just data that allows us to avoid the inconvenience of barter,” Musk said. “That data, like all data, is subject to latency & error.”

In the following post, he added, “that said, BTC & ETH do seem high lol.”

Bitcoin which is the world’s most valuable cryptocurrency hit a milestone as its price breaches $55,000, and its market value hits $1 trillion.

Crypto gurus discuss that Bitcoin has hit an important milestone to date, which makes it the sixth most valuable asset in the world.

Bitcoin traded at $57,207.44 at the time of writing this article with a trading daily volume of $67.6 billion which represents that bitcoin is up 4.61% for today and is valued at $1.067 trillion.

Owing to the fact that bitcoin has a trillion-dollar attached to its name, it has now joined the trillion-dollar club with Google, Apple, Alphabet A, Microsoft, Amazon, and Saudi Aramco.

According to a source,

Many crypto pundits are dueling with skeptics for the dominant narrative around the surge, some crypto experts are however of the bias that these popularly known crypto assets are being embraced for their ability to hedge risks such as inflation, while others sense a precarious mania riding atop waves of monetary and fiscal stimulus.

However, 2021 is expected to be a good year in terms of bitcoin price appreciation because it has received several recommendations from top companies like  Mastercard and America’s oldest bank, BNY Mellon.

Conclusion

Elon Musk, the world’s richest man added that Bitcoin and Ethereum do seem high.

Bitcoin which is the world’s most valuable cryptocurrency hit a milestone as its price breaches $55,000, and its market value hits $1 trillion.

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