Elon Musk describes Bitcoin as bullshit
On Friday evening, the Bitcoin swings around and over $ 54,000. As usual, a tweet from Elon Musk could be responsible for this. In it, he describes Bitcoin harshly.
Bitcoin recorded a new all-time high at $ 54,831 when this article was published, coming from a daily low of $ 50,977. Price, trading volume and market capitalization increased in the last 24 hours in the range of five to six per cent. Bitcoin has passed the trillion mark and is worth more than most companies worldwide in market capitalization.
The increase is probably again attributable to Tesla boss Elon Musk, who expressed himself somewhat surprisingly. In a tweet to Bloomberg, Elon Musk said, “Tesla’s action is not directly reflective of my opinion. Having some Bitcoin, which is simply a less dumb form of liquidity than cash, is adventurous enough for an S&P500 company.”
He described holding Bitcoin as “adventurous enough” for a company listed in the S&P 500. However, that would be understandable because Bitcoin is “simply a less dumb form of liquidity than cash.”
Then he adds, “To be clear, I am not an investor; I am an engineer. I don’t even own any publicly traded stock besides Tesla. However, when fiat currency has negative real interest, only a fool wouldn’t look elsewhere. Bitcoin is almost as bs (bullshit)as fiat money. The key word is “almost”.”
Since then, Bitcoin price has risen.