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01 March 2021

Elon Musk says BTC, ETH prices “high” while dunking on Peter Schiff

Elon Musk says BTC, ETH prices “high” while dunking on Peter Schiff


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Yesterday morning Schiff, the noted gold bug and Bitcoin skeptic, posted a Tweet thread in which he criticized Elon Musk’s comment that Bitcoin is a flawed currency, though still better than fiat alternatives:.

According to @elonmusk "Bitcoin is almost as BS as fiat money." So Musk regards both #Bitcoin and fiat as BS.

Schiff noted that, “as an engineer” the Tesla founder should know the difference between a “tangible element” and a “string of numbers,” and said that gold has greater utility relative to Bitcoin. .

Money improved barter, gold improved money, and data improved #gold.

Considering how flippant Musk has been in promoting the Dogecoin meme currency, he also hedged his statement with a perhaps surprising follow-up, warning that prices for Bitcoin and Ether are “high.”

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