Musk’s bitcoin rally “honestly expensive”

Input 2021.02.21 07:47 | Revision 2021.02.21 09:22

Elon Musk, Tesla’s CEO, admitted that the cryptocurrency Bitcoin and Ethereum are expensive. It’s been a day since I said holding bitcoin was a “less dumb act” than holding cash.

Musk replied to a tweet from Peter Seef, a leading bitcoin skeptic and gold investment advocate on the 20th (local time). “Musk sees both bitcoin and fiat currency as bad. I agree. But personally, I think that the digital currency Bitcoin is far more bad than the paper fiat money issued by the central bank.” And Ethereum prices seem to be high,” he responded.

Musk is the one who set fire to the recent bitcoin rally. He referred to himself as a “Bitcoin supporter” on the 2nd, and less than a week later purchased $1.5 billion worth of Bitcoin in Tesla’s name. Thanks to this, Bitcoin surpassed 50,000 dollars for the first time in history on the 16th, and the market cap exceeded 1 trillion dollars on the 19th. Bitcoin price rose 64% only in February.

On the 19th, Musk also said, “Holding bitcoin is a less stupid act than holding cash. The real interest rate of legal currency is negative, but only fools (Bitcoin, etc.) do not turn their heads elsewhere.” Encouraged investment.