Bitcoin is worth whatever Elon Musk and Cathie Wood say it is ...Middle East

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Bitcoin is worth whatever Elon Musk and Cathie Wood say it is
A question that has long bedeviled bitcoin observers is how to value it. Lately the answer to its worth has been whatever influential people like Elon Musk and star stock picker Cathie Wood say it is.The original crypto asset bounced around this month as influencers weighed in. Bitcoin shot to a record high after Tesla revealed that the electric car company had converted $1.5 billion of its cash holdings into it. Then bitcoin got sucked into a downdraft when Tesla chief Musk suggested prices “seem high.” Prices lurched upward again after Wood, the investing rockstar and founder of ARK Investment Management, told Bloomberg she was “very positive” on bitcoin and glad to see a price correction.

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