Elon Musk describes Bitcoin as bullshit – and pushes currency over the trillion mark
Tesla boss Elon Musk. (Photo: Vasilis Asvestas / Shutterstock.com)
No time right now?
On Friday evening, the bitcoin swings around and over $ 54,000. As so often, a tweet from Elon Musk could be responsible for this. In it, he rates the Bitcoin unusually harshly.
Bitcoin recorded a new all-time high at $ 54,831 at the time 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 between five and six percent. Bitcoin has thus passed the trillion mark and is worth more than most companies worldwide in terms of market capitalization.
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 as fiat money. The key word is “almost”.
– Elon Musk (@elonmusk) February 19, 2021
The increase is probably attributable to Tesla boss Elon Musk, who, however, expressed himself somewhat surprisingly. In a tweet from Bloomberg with an interview with Binance boss CZ, who had spoken about Tesla’s Bitcoin Invest, Musk said he had to make it clear that Tesla’s investment in Bitcoin did not allow any direct conclusions to be drawn about his personal opinion on the subject.
He described holding Bitcoin as “adventurous enough” for a company listed in the S&P 500. That would be understandable, however, because Bitcoin is a “less stupid form of liquidity than cash”.
But he is an engineer and not an investor and does not hold any shares outside of Tesla. But if money in the bank led to negative interest rates, only a “fool would not look for alternatives.” Nevertheless, he thinks Bitcoin is almost as bad as fiat money. He used the abbreviation bs for bullshit. The emphasis is on the word “almost”.
Since then, the Bitcoin price has risen.
