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Billionaire Elon Musk said the price of Bitcoin and Ethereum “seem high” as the cryptocurrencies reached new records

Billionaire Elon Musk said the price of Bitcoin and Ethereum “seem high” as the cryptocurrencies reached new records
21.02.2021 11:15
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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.

He was replying to a tweet by Peter Schiff – a cryptocurrency skeptic and noted gold bug – who said the precious metal is better than Bitcoin and fiat money.

Musk earlier called Bitcoin a “less dumb” version of cash.

Musk earlier called Bitcoin a “less dumb” version of cash. The largest cryptocurrency rose as much as 3.4% to a record high of $57,527 on Saturday before paring gains to $57,040 at 1:26 p.m. in New York. It’s surged 56% since the end of January and more than quadrupled last year. For several years after its debut more than a decade ago, Bitcoin traded for just a few cents.

Ethereum reached a high of $2,041, hitting a record for the third straight day. It has risen more than 170% this year.