Bitcoin sets a market cap above $1T while Elon Musk believes its price is overrated
On Saturday, Tesla CEO said that the Bitcoin price seems to be too high after Bitcoin passed 50K.
On Friday, a new milestone was crossed by the world’s number one cryptocurrency by market cap, Bitcoin. $1T was the market value that was reached for, leaving traders and major backers were taken aback.
Elon Musk once again talked about Bitcoin, but this time he believed that its price was not fair and said it’s too high. This happened right after Bitcoin crossed $55K on Friday that helped it reach a market value of $1T which is a historic record so far.
Elon Musk who has been even more active recently regarding cryptocurrencies has tweeted and said a few things regarding money and its value;
“Money is just data that allows us to avoid the inconvenience of barter. That data, like all data, is subject to latency & error. The system will evolve to that which minimizes both.”
He also talked about Bitcoin and Ethereum as a reaction to a user who believed that fold was better than both BTC and ETH. “That said, BTC & ETH do seem high lol”. You can see the tweet here;
Bitcoin has seen more than 350% increase in its price in the past 6 months being traded at $57K. The second most known cryptocurrency, Ethereum, had increased drastically and was being traded at $1,996 on Saturday.
This huge rise has been in part the result of the support received by certain celebrities, investors, and organizations. Elon Musk, Jack Dorsey, Visa, and MasterCard are cases in point as they have either supported or employed Bitcoin in their system and recently the Bank of New York Mellon has shown interest in the realm of cryptocurrencies.
ADA stands at $2 prior to Cardano smart contract announcement
Since May, this is the first time ADA hits $2 which is interesting because it happened before the introduction of Cardano smart contract. ...
SEP 13, 2021
The hacker returned almost all of the $600M and rejected the $500K reward from Poly Network
In a white hat gesture, Poly Network hacker gave back all of the money and said that he is neither interested in the bounty nor in responding to the offer. ...
AUG 12, 2021
$600 million was stolen in an exploit on Poly Network
In an exploit, hackers managed to steal $600 million from the Poly Network across three chains. ...
AUG 10, 2021
Bitcoin breaks $43K and crypto fans are optimistic once again after months of stress
After weeks of wait, finally, the crypto market rises from its ashes and breaches the $43K level, and records the highest price in the last months. ...
AUG 06, 2021