Elon Musk: Bitcoin And Ethereum Bubble Increases

JAKARTA - Elon Musk, who is the boss of the electric car company Tesla and space vehicle company SpaceX, said that the value of bitcoin is getting higher. The popularity of cryptocurrencies has skyrocketed amid the pandemic sweeping the world.

This digital financial system seems not to be disturbed by the outbreak of the coronavirus that is spreading. In contrast to the circulation of money which is controlled by the central bank. The Tesla boss also uploaded his tweet on Twitter.

"Money is just data that allows us to avoid the inconvenience of bartering", Musk said in his tweet as quoted by CNBC International.

Heard a rumor some crypto coin was pegging the dollar 🤣🤣

- Elon Musk (@elonmusk) February 20, 2021

Previously, bitcoin was traded for IDR 756 million on Friday, February 15. Two days later, the cryptocurrency also experienced a jump to an even higher level, which touched the IDR 821 million mark.

Although observers view cryptocurrencies negatively because of their volatility, they may disappear in a short time. The Tesla boss also commented that the system is constantly improving and this can be improved.

“That data, like all data, is subject to latency and errors. The system will develop into a system that minimizes both".

Musk's tweets on Twitter often influence the value of the digital currency. He also wrote a tweet related to the prima donna of the cryptocurrency bitcoin and Ethereum.

"Bitcoin and Ethereum do appear to be high", Musk wrote in response to those who argued that gold is still better than cash and cryptocurrencies.

After bitcoin, the number two cryptocurrency that has a high selling price is Ethereum. The digital currency under bitcoin also experienced a high enough jump to reach the price of 2,040 US dollars (around IDR 28.56 million).

The increase in the value of bitcoin is due to the increase in investors and several technology giant companies to invest in digital currency. Previously, Tesla and Mastercard also used bitcoin as a transaction tool to buy their products. This was later followed by Apple. Other companies may follow the steps of the technology giants.