Bitcoin reached $1 trillion market cap, Elon Musk optimistic it goes up

Bitcoin surged to another record high after reaching more than $1 trillion in market value for the first time.

In a tweet, Elon Musk said Bitcoin prices “seem high.” The world’s richest person was replying to Peter Schiff — a crypto skeptic and gold bug — who said the precious metal is better than Bitcoin and fiat money.

The world’s most popular cryptocurrency rose to an record $56,620, taking its weekly gain to 18%. It has surged more than 92% this year.

“Money is just data that allows us to avoid the inconvenience of barter,” Musk tweeted. “That data, like all data, is subject to latency & error.” In a following post, he added, “that said, BTC & ETH do seem high lol.”

Source [bloombergquint]