Tesla CEO Elon Musk, who has been tweeting on cryptocurrencies with greater frequency for some time now, has said that prices of Bitcoin now “seem high”.
His comments came after Bitcoin`s total market value passed $1 trillion for the first time on Friday, according to data from CoinDesk.
The leading cryptocurrency reached an all-time high on $57,492 in the past 24 hours, showed the data.
In a reply to crypto skeptic and gold bug Peter Schiff, Musk said that “BTC & ETH do seem high.”
Schiff argued that gold was “real money” and better than both Bitcoin and fiat currency.
“An email saying you have gold is not the same as having gold. You might as well have crypto,” Musk said in a tweet on Saturday.
“Money is just data that allows us to avoid the inconvenience of barter. That data, like all data, is subject to latency and error. The system will evolve to that which minimises both,” he added.
Musk`s electric vehicle company Tesla earlier this month revealed that it…