Record Moves: Bitcoin Jumps To $57,000, Ethereum Crosses $2,000 As Elon Musk Calls Prices 'High'

Bitcoin: The price of Bitcoin (BTC) has surged to a record $57,181, at the time of writing.

This is one day after the leading digital currency market cap crossed the $1 trillion mark. The number has grown to $1.066 trillion since then, while the entire crypto market accounts for over $1.762 trillion.

Despite the massive price surges, predictions for even higher prices have been flowing in.

SkyBridge Capital’s Anthony Scaramucci recently said he believes Bitcoin will reach $100,000 by the end of this year.

Ethereum: The second leading cryptocurrency and “altcoin” leader also has been gaining momentum. Ethereum’s (ETH) price just reached a new all-time high of $2,024, according to data from CoinMarketCap.

Mark Cuban said last week he thinks “ETH has an advantage over BTC as a store of value” because major innovations in the crypto space are happening on Ethereum.

Meanwhile, Tesla Inc (NASDAQ: TSLA) CEO Elon Musk, who has been tweeting in favor of crypto, especially Dogecoin (DOGE), said that Bitcoin and Ethereum prices “seem too high,” replying to a thread by Peter Schiff, who is known for his crypto criticism.

Musk also mentioned what he believes is the real function: “Money is just data that allows us to avoid the inconvenience of barter,” he wrote.