Bitcoin prices tumble following comments from Elon Musk, Bill Gates and Janet Yellen

Bitcoin prices tumble following comments from Elon Musk, Bill Gates and Janet Yellen

The move followed skeptical comments from Tesla CEO Elon Musk, Treasury Secretary Janet Yellen and Microsoft (MSFT) co-founder Bill Gates.

Prices stabilized around $ 48,000 early in Tuesday’s trading, but it’s still over 10% lower from Monday’s levels.

But even Musk is starting to worry about the surge in bitcoin, noting a tweet on Saturday that he thought the prices of bitcoin and ethereum, the world’s second largest cryptocurrency, “look high.”

On Monday, Yellen, former chairman of the Federal Reserve, also cast doubts.

Speaking at New York TImes DealBook Conference, Yellen said that bitcoin is “an extremely inefficient way to transact”, and …
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