Cryptocurrency

Elon Musk Says Bitcoin and Ethereum Are Expensive

Elon Musk Says Bitcoin and Ethereum Are Expensive

Elon Musk Says Bitcoin and Ethereum Are Expensive

-Tesla CEO, Elon Musk has said that top Cryptocurrencies, Bitcoin and Ethereum are looking expensive

-The billionaire made this statement on Twitter while replying Peter Schiff, a gold hedge fund manager

-Bitcoin and Etheruem have been on a bullish run, having both reached new ATHs today

Billionaire, Elon Musk believes that major cryptocurrencies, Bitcoin and Ethereum are overbought.

Musk made this statement while replying a gold hedge fund manager, Peter Schiff.

Schiff is known for having negative opinions about cryptocurrencies, believing that Gold is better than cryptos and fiat.

In a tweet, Peter Schiff claimed that Gold is real money and better than cryptos and fiat before Musk replied.

Read also: Elon Musk reveals Tesla’s reason for investing in Bitcoin and not Dogecoin

The SpaceX CEO replied by telling him that money is only data that allows people to escape the inconvenience of barter. He then added that the price of Bitcoin and ETH are high.

Bitcoin has been on an uptrend for the past 48 hours. The cryptocurrency reached a new all-time high of $56000, with the market value breaching $1 trillion.

Utility Crypto, Ethereum is also up by 1% or the day. It is trading at $999.67 with a daily trading volume of $31.4 billion.

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