Elon Musk admits on Twitter that bitcoin and ethereum ‘look tall’

Elon Musk admitted that bitcoin and ethereum “look high” when exchanging Twitter with Peter Schiff.
Tesla’s CEO responded to Schiff’s claim that gold was a better asset allocation than cryptography.
On Friday night, bitcoin reached record levels, pushing its market capitalization to more than $ 1 trillion.
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Elon Musk is not shy about saying what he thinks on Twitter.

In his latest comments on social media, the Tesla boss admitted that the price of bitcoin and ethereum “looks high” as crypto assets have reached record levels.

Last night, bitcoin reached the $ 55,000 level, bringing the market capitalization of crypto to over $ 1 trillion. His latest recovery was largely attributed to Tesla’s $ 1.5 billion purchase, revealed in a SEC filing on February 8, causing Bitcoin to rise 16% on the day.

Musk’s comment was in response to Peter Schiff, a well-known crypto-skeptic and ‘gold bug’, who claimed that gold was a better asset allocation than bitcoin or fiat.

Schiff’s was quoting Musk’s tweet that bitcoin was a “less dumb” version of money.

“When the fiat currency has negative real interest, only a fool would not look elsewhere,” Musk tweeted on February 19. “Bitcoin is almost as cheap as fiat money. The keyword is ‘almost’.”

But Musk replied to the veteran stockbroker stating that: “An email saying you have gold is not the same as having gold. You can also have encryption. Money is just data that allows us to avoid the inconvenience of the exchange.”

An hour later, Musk followed up with a post saying: “that said, BTC and ETH look loud lol.”