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BILLIONAIRE WATCH

World’s richest man, Elon Musk says Ethereum and Bitcoin is looking expensive

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In a tweet released some hours ago by Elon Musk, the world’s richest man, he has disclosed that the price of the leading two cryptos seems to be in overbought territory.

The leader of the world’s most valuable electric car maker was replying to Peter Schiff — a highly revered gold hedge fund manager that is popularly known for his strong bias against crypto assets and has always believed gold was much better than Bitcoin and fiat money.

“Money is just data that allows us to avoid the inconvenience of barter,” Musk said. “That data, like all data, is subject to latency & error.”

In the following post, he added, “that said, BTC & ETH do seem high lol.”

The world’s most demanded crypto-asset, some hours ago, broke a very important milestone. With the price of Bitcoin breaching $55,000, Bitcoin’s market value has now breached $1 trillion.

Some leading traditional finance experts are also not buying into the flagship crypto bullish run as they see little value in the digital currency on the account that they believe Bitcoin, and other leading Cryptos are just part of a larger speculative bubble.

However, many crypto experts argue that this could be Bitcoin’s most important milestone to date, as it is now the sixth most-valuable asset worldwide.

At the time of writing this report, Bitcoin traded at $57,207.44 with a daily trading volume of $67.6 billion and is up 4.61% for the day. It is currently valued at $1.067 trillion.

Also, the world’s utility crypto, Ethereum, at press time traded at $1,999.67 with a daily trading volume of $31.4 billion. Ethereum is up 1.88% for the day.

With a trillion dollars to its name, Bitcoin has now joined the highly prestigious club of trillionaires, which includes the likes of Apple, Saudi Aramco, Microsoft, Amazon, and Alphabet A.

Still, many crypto pundits are dueling with skeptics for the dominant narrative around the surge, some crypto experts are also of the bias that these popularly known crypto assets are being embraced for their ability to hedge risks such as inflation, while others sense a precarious mania riding atop waves of monetary and fiscal stimulus.

There is no doubt, 2021 continues to shape up as a very exciting year for Bitcoin. The flagship crypto has gotten more credibility in recent days due to blue-chip companies like Mastercard and America’s oldest bank, BNY Mellon, showing support for it.

Mastercard had earlier disclosed that it would open up its network to some cryptocurrencies including Bitcoin.

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BILLIONAIRE WATCH

Bill Gates says he doesn’t own Bitcoin, remains neutral about crypto asset

The tech billionaire disclosed he has a neutral view of Bitcoin and hasn’t bought the crypto asset.

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Bill Gates, popular tech billionaire and founder of the world’s most valuable software maker, Microsoft, recently revealed he is open-minded towards the world’s most popular crypto asset but does support the digitalization of fiat currencies as it would drive down the operational costs of managing paper money.

Speaking in an interview with CNBC’s Squawk Box recently the tech billionaire disclosed he has a neutral view on Bitcoin. He also revealed he hasn’t bought any bitcoin.

 

The highly respected tech entrepreneur added the high price volatility of Bitcoin was being driven by “mania” prevailing in crypto markets making it hard for a normal investor to predict the crypto asset’s trajectory.

At the time of drafting this report, Bitcoin traded at $56,649.42 with a daily trading volume of $65 Billion and is up 1.55% for the day. It currently has a market value of $1.056 trillion.

The world’s most popular crypto asset some hours ago broke a very important milestone.

Still, some leading traditional finance experts are also not buying into the flagship crypto bullish run as they see little value in the digital currency on the account that they believe Bitcoin, and other leading cryptos are just part of a larger speculative bubble.

However, many crypto experts argue that this could be Bitcoin’s most important milestone to date, as it is now the sixth most-valuable asset worldwide.

The 65-year-old tech billionaire has earned more than $50 billion in stock and dividends, including a $3.3 billion payout from Microsoft in 2004, which he donated to his philanthropic foundation.

He is currently the biggest shareholder of Canada’s biggest railroad operator, the Canadian National Railway.

Gates made his wealth when he simplified the computer operating system by creating Microsoft Windows, the leading operating system in personal computers globally today.

For many years, Gates had been the world’s richest man. He now has a fortune of $136 billion with a 2021 gain of about $4.62 billion. Gates’s current wealth valuation can presently buy 76.3 million troy ounces or 2.17 billion barrels of crude oil.

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BILLIONAIRE WATCH

Elon Musk now the third-richest person in the world

Tesla and SpaceX CEO Elon Musk has surpassed Facebook boss Mark Zuckerberg’s net worth to become the third richest person in the world.

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Tesla and SpaceX CEO Elon Musk has surpassed Facebook chief Mark Zuckerberg’s net worth to become the third richest person in the world.

Musk, 49, saw his wealth increase by over $11.7 billion in a single day after Tesla Inc stocks continued to surge, according to the Bloomberg Billionaires Index. The Tesla boss is now worth Rs 115.4 billion, nearly $5 billion more than Zuckerberg’s $111 billion.

It has been an amazing year for Musk, who saw his wealth rise nearly $88 billion this year.

According to the Bloomberg Billionaire Index (BBI), Musk has gained the most among all elite billionaires this year as Tesla shares surged almost 500 per cent this year.

It is worth mentioning that Tesla’s $464 billion market value is now more than retail behemoth Walmart, which is the largest company in the US in terms of revenue.

Musk’s meteorically rise this year can be determined by the fact that he joined the elite centibillionaire club last week and has already taken over Zuckerberg.

Musk is now positioned below Bill Gates who has a net worth of $125 billion and the world’s richest man Jeff Bezos, who is valued at $202 billion.

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