How Elon Musk reacted to After Bitcoin's All-Time High

Bitcoin’s BTC/USD latest rally to an all-time high price of above $67,000 has given rise to a fresh wave of bullish predictions, with the cryptocurrency’s price already more than double where it started the year.

Tesla TSLA CEO Elon Musk shared a meme on Twitter celebrating Bitcoin’s record surge. The billionaire’s meme shows a couple in bed, staring at a screen which shows Bitcoin at $69,000  and Ethereum ETH/USD, the other big cryptocurrency, at $4,200.

His tweet might have been inspired by the fact that bitcoin rallied to a record of nearly $67,000 on Wednesday, following the successful launch of the ProShares' Bitcoin Strategy ETF, the first futures fund.

In February, Tesla revealed that it had bought $1.5 billion of Bitcoin and would accept the world’s most popular currency as the means of payment for cars.

However, in May, Elon Musk announced that Telsa would not accept Bitcoin as the form of payment for cars because of long-brewing environmental concerns for a smooth reversal in the company’s position on the crypto. His tweet resulted in a 10% downfall in Bitcoin.

Further, Musk mentioned that despite Bitcoin having a great future, he cannot put the environment at risk.

“Ether is also showing a great price movement and trading at $4000 which is very close to its previous ATH. Overall, it’s a huge milestone for the entire crypto ecosystem. It’s also a good sign for Bitcoin because it will now encourage more investors to take it seriously as an alternative asset class, and participate,” said Nischal Shetty, CEO of WazirX.