Elon Musk
@@elonmusk · Building · entrepreneur, tech-ceo, market-mover
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Responding to a user who said gold was better than bitcoin and cash, Musk tweeted that money is just data and added 'that said, BTC & ETH do seem high lol' — a casual valuation/directional call that bitcoin (then ~$55k-$57k, having just crossed a $1T market cap) was elevated/overvalued.
“Musk added, 'that said, BTC & ETH do seem high lol,' in a response to a user who said gold was better than both bitcoin and cash. Bitcoin was trading above $57,000 on Saturday when Musk made the comments.”
Called BTC 'high' at ~$56k in Feb 2021; it never sustainably reversed on that basis — rallying to $126,296 — so the 'overvalued/elevated' directional read did not pan out.