Bitcoin hits new high of $57,000, Elon Musk reacts

Bitcoin has extended its upward trend over the weekend, reaching a new record high.

After the granddaddy of cryptocurrencies reached a market capitalisation 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 “seem high,” according to FXStreet.

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.