San Francisco. Tesla CEO Elon Musk, who has been tweeting more on cryptocurrency for some time, said bitcoin prices are now looking higher. The total market value of bitcoin crossed $ 1 trillion for the first time on Friday.
Cryptocurrency reached $ 57,492 in last 24 hours
Data showed that the leading cryptocurrency reached an all-time high at $ 57,492 in the last 24 hours. Responding to Peter Schiff, who did not believe in cryptocurrency and considered investing in gold better, Musk said that “BTC and ETH seem to be high.” Schiff argued that gold is real money and is superior to both bitcoin and fiat currency.
Barter protects you from the system
“You have gold, you can also have cryptocurrencies,” Musk said in a tweet on Saturday. He said that money is just data that helps us avoid the inconvenience of barter system. This data, like all data, is subject to latency and error. The system will develop to an extent that will significantly reduce both.
$ 1.5 billion investment in bitcoin
Musk’s electric vehicle company Tesla revealed earlier this month that it had invested $ 1.5 billion in bitcoin, triggering cryptocurrency prices. Tesla said it would begin accepting bitcoins as a “payment” for its products in the near future.