Bitcoin and Ethereum Prices 'Seem High,' Says Musk

Written by :

Reuters

Published on :

21 February, 2021

Bitcoin and Ethereum Prices 'Seem High,' Says Musk

(Reuters) - Billionaire CEO Elon Musk said on Saturday the price of bitcoin and ethereum seemed high, at a time when the cryptocurrencies have hit record highs, with bitcoin crossing the $1 trillion market-capitalization threshold.

The chief executive of Tesla Inc, whose recent tweets have fueled the digital-currency rally, made the remark on Twitter while replying to a user who said that gold was better than both bitcoin and conventional cash.

Musk, who earlier in the week remarked that he found the prospect of holding bitcoin adventurous for an S&P 500 company, said in a tweet: “Money is just data that allows us to avoid the inconvenience of barter ...”

“That said, BTC & ETH do seem high lol,” he added.

Bitcoin, the world’s most popular cryptocurrency, hit a fresh high in Asian trading on Saturday, extending a two-month rally a day after the digital currency’s market capitalization exceeded $1 trillion.

Ethereum or ether is the second-largest cryptocurrency by market capitalization and daily volume.

Musk, an ardent proponent of digital currencies, has defended Tesla’s recent purchase of $1.5 billion of bitcoin, which has ignited mainstream interest in the digital currency.

LeBron James’ Next Team Speculation is Driving Huge Action at Prediction Markets

LeBron James Next Team betting markets have so far generated over $200 million just on Kalshi.

Trial Continues for One Time Exec of Malta's BestPlay Gaming Ltd Charged With Complicity in Journalist Assassination

Trial Continues for One Time Exec Tied to Malta's BestPlay Gaming Ltd Charged With Complicity in Journalist Assassination

Businessman Yorgen Fenech who once had ties to Malta's BestPlay Gaming Ltd is on trial accused of complicity in journalist Daphne Caruana Galizia voluntary homicide and criminal association.

Can't Play With Kalshi From Washington State - WTF?

Judge John McHale of the King County Superior Court said the state showed "a likelihood of actual and substantial injury to Washington consumers from illegal gambling activities" if no injunction (against Kalshi) were issued.

Knoxville Tennessee is Getting a New Nonstop Flight to Las Vegas

Southwest Airlines has announced it will begin flying nonstop flights between Knoxville, Tennessee and Las Vegas, Nevada on Saturdays and Sundays, which will compliment Allegiant Airlines Monday and Friday nonstop flights.