Bitcoin has been extending its upwards move over the weekend. After the granddaddy of cryptocurrencies reached a market capitalization of $1 trillion, it has hit a new peak of $57,663, as quoted on Coinbase.
Elon Musk, founder of Tesla – and Dogecoin enthusiast – has tweeted that prices of both BTC and Ethereum (ETH) “seem high.” Here is the daily chart of BTC/USD, which has changed hands below $20,000 around two months ago.
Earlier on, the world’s second-richest person said that digital coins are a “less dumb” version of cash. Apart from Musk, institutional interest from others such as Mastercard, BNY Mellon and Morgan Stanley has one of the critical upside drivers for BTC.