Elon Musk Says Bitcoin Prices ‘Seem High’ After Record Week
Bloomberg 2/20/2021 Dave Liedtka
(Bloomberg) Bitcoin surged to another record on Saturday after reaching more than $1 trillion in market value for the first time, leaving some of its biggest backers in a state of wonderment.
In a tweet, Elon Musk said Bitcoin prices “seem high.” The world’s richest person was replying to Peter Schiff a crypto skeptic and gold bug who said the precious metal is better than Bitcoin and fiat money.
“Money is just data that allows us to avoid the inconvenience of barter,” Musk tweeted. “That data, like all data, is subject to latency & error.” In a following post, he added, “that said, BTC & ETH do seem high lol.”
MONEYWEB
app instead?
Doubling of crypto index this year puts stocks, commodities in the shade.
By Eric Lam, Bloomberg
20 Feb 2021 11:05
Image: Bloomberg
Bitcoinâs market value reached $1 trillion for the first time, a surge thatâs helping cryptocurrency returns far outstrip the performance of more traditional assets like stocks and gold.
The largest digital-asset has added more than $450 billion of value in 2021 to more than $1 trillion, data compiled by Bloomberg show. The Bloomberg Galaxy Crypto Index, which includes Bitcoin and four other coins, has more than doubled.
Speculators, corporate treasurers and institutional investors are thought to have stoked Bitcoinâs volatile ascent. Crypto believers are duelling with skeptics for the dominant narrative around the climb: the former see an asset being embraced for its ability to hedge risks such as inflation, while the latter sense a precarious mania riding atop waves of monetary and fiscal stimulus.
Bloomberg20 February 2021
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Bitcoin’s market value reached $1 trillion for the first time, a surge that’s helping cryptocurrency returns far outstrip the performance of more traditional assets like stocks and gold.
The largest digital-asset has added more than $450 billion of value in 2021 to more than $1 trillion, data compiled by Bloomberg show. The Bloomberg Galaxy Crypto Index, which includes Bitcoin and four other coins, has more than doubled.
Speculators, corporate treasurers and institutional investors are thought to have stoked Bitcoin’s volatile ascent.
Crypto believers are duelling with sceptics for the dominant narrative around the climb: the former see an asset being embraced for its ability to hedge risks such as inflation, while the latter sense a precarious mania riding atop waves of monetary and fiscal stimulus.
Bitcoin nears $1-trillion value - TechCentral techcentral.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from techcentral.co.za Daily Mail and Mail on Sunday newspapers.
Read more about Bitcoin nears $1 trillion market value as crypto jump tops stocks, gold on Business Standard. Bitcoin traded at around $51,300 as of 1:30 pm on Friday in Hong Kong after quintupling in the past year