On the evening of February 20th, the bitcoin price rose in a short time, breaking through $57,000, and the total market value of bitcoin also exceeded $1 trillion, a record high. On that day, the highest bitcoin price was USD 57,600/piece.

* There is a huge bubble hidden behind a speculative feast

On the evening of February 22nd, due to the short-selling funds, bitcoin fell more and more, and once fell below USD 48,000/piece in intraday trading, the decline expanded to nearly 17%. Subsequently, the long-term funds quickly began to bargain-hunting, and within half an hour, the decline of Bitcoin returned from 17% to 6%. Bitcoin's price seems to be riding a roller coaster, and suddenly it is "scared".

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As we know, Bitcoin is a kind of virtual currency, with a limited number of about 21 million. As the number of bitcoins available for mining is getting smaller and smaller, its value is getting higher and higher.

The value of Bitcoin is not supported by industry, but its bubble is blowing bigger and bigger. As for its price, there seems to be no end!

It has a high price and a great disadvantage. Bitcoin is not a commodity currency and lacks endorsement of national sovereignty. According to U.S. Treasury Secretary Yellen, the value of Bitcoin may lie in illegal financing and speculation. Some people are not optimistic about its future because of its illegal trading characteristics.

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Of course, many people are optimistic about it, otherwise, where does the "sky-high price" come from? Among them is Musk. Musk made a high-profile investment in Bitcoin, and repeatedly tweeted in support of Bitcoin, even replacing his Twitter avatar with one with Bitcoin symbol. Previously, Tesla invested in Bitcoin for one month, and its income exceeded that of selling cars for one year. Speculative returns are tantamount to getting drunk, and dazzling is a huge risk.

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Tesla's share price plummeted by 8.55% on Monday, and Musk's worth evaporated by $15.2 billion a day, once again falling to the second place in the global rich list, and Bezos regained the throne of the world's richest man. Part of Tesla's share price decline is caused by bitcoin price.

* What does Bill Gates think of Bitcoin?

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Bill Gates said that he is not a fan of Bitcoin because the exploitation of Bitcoin will consume a lot of energy and have an impact on the environment.

In addition, he is also worried about investors other than Musk. He said: Musk has a lot of money and he is very sophisticated, so I don't worry that his bitcoin will go up and down randomly. But I do think that those who bought in the bitcoin boom may not have so much spare cash. So I'm not optimistic about Bitcoin. My general idea is that if you don't have as much money as Elon, you should be careful.