Elon Musk, Tesla CEO, who set fire to the rising price of cryptocurrencies (virtual currencies) such as Bitcoin, admitted that the prices of Bitcoin and Ethereum, which are on the record highs, are expensive.
Musk said, “That said, BTC & ETH do seem high lol” on the 20th (local time), a day after calling Bitcoin a’less stupid form of cash’. Tweeted.
This is the follow-up tweet of a tweet saying that it is better to hold bitcoin than cash while comparing bitcoin to legal currency.
The tweet was in the form of a reply to Bitcoin skeptics, gold advocate Peter Seef, Chief Executive Officer of Europacific Capital (CEO).
“Musk thinks that both bitcoin and fiat currency are crap. I agree. I think bitcoin, a digital currency, is much more crappy than paper fiat money issued by the central bank,” Sif said.
“Gold isn’t crap. It’s real money,” Sif added.
Meanwhile, Musk is the one who set fire to the recent bitcoin rally. He said on the 8th that Tesla will invest $1.5 billion in Bitcoin and will use it as a vehicle payment method. After that, cryptocurrencies such as Bitcoin began to rally.