Billionaires from Microsoft global founder Bill Gates to Tesla CEO Elon Musk are getting pressure off bitcoin (even Mark Cuban can’t resist).
After Musk pushed the price of bitcoin significantly higher with pro-bitcoin tweets, Tesla added $ 1.5 billion worth of bitcoin to its balance – pushing bitcoin even higher.
Now, with Federal Reserve chiefs expressing their surprise at bitcoin’s latest bull run, Bill Gates has warned that people with less money than Musk “should keep check out. “
Microsoft cofounder Bill Gates has warned people about being caught in “manias” like bitcoin and … [+]
NurPhoto through Getty Images
“Elon has tons of money and is very solemn, so I don’t worry that his bitcoin will go up or down at random,” Gates said. Bloomberg in an interview. “I think people will be bought into these manias that don’t have as much money to save. My general opinion is that if you have less money than Elon, you should to keep an eye out. “
Later, speaking on the Clubhouse-only invite chat app, Gates said he has not personally invested in bitcoin, telling host Andrew Sorkin that he would prefer his money to applied to “product-making” companies and did not select its investments on the basis on which they would add value.
The price of bitcoin is known for its volatility, climbing to nearly $ 60,000 last week after falling to less than $ 4,000 in March 2020. It bounced back over the summer. and began its most recent bull run in October, surpassing its 2017 high in December as institutional investors showed an update. interest in digital assets.
Last week, the total value of bitcoin tokens reached $ 18.6 million in circulation for $ 1 trillion for the first time – double the $ 500 billion it started in 2021 when cryptocurrency mania returned into effect.
The price of bitcoin has skyrocketed in the last 12 months, climbing to around $ 50,000 per bitcoin.
Coinbase
Musk, who briefly founded Amazon Jeff Bezos as the richest man in the world this year, has been a supporter of bitcoin and cryptocurrencies – regularly tweeting about bitcoin-rival dogecoin “joke” . Some have suggested that Musk’s free wheel tweets could attract the attention of U.S. regulators.
Despite the fact that the price of bitcoin has fallen by almost 20% over the past week, many in the bitcoin and cryptocurrency community are still optimistic about its prospects – indicating the rate of inflation as an interest in bitcoin due to such a small supply.
“With the Fed’s recap to maintain economic support, and the prospect of a new stimulus package, market concerns about a sudden rise in inflation are growing,” said Artur Sapek, general manager of trading platform and charter cryptocurrency Cryptowatch, in e-mail comments.
“Whether inflation or not, today’s bitcoin reality has risen at every glance that the market is beginning to understand, and buy into the recommend the value of the basis for this $ 950 billion fund. “