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<\/p>\n Bitcoin continues dropping in price.<\/p>\n <\/span><\/p>\n Angela Lang\/CNET<\/p>\n <\/span><\/figcaption><\/figure>\n<\/p>\n Bitcoin reached the milestone of a $1 trillion market cap last week. It appears, however, that a tweet from\u00a0 CEO , some words of caution from Treasury Secretary Janet Yellen and comments from Microsoft co-founder Bill Gates are making its value drop fast.\u00a0<\/p>\n The popular cryptocurrency fell to slightly over $47,000 on Tuesday, after breaking the $58,000 mark Sunday afternoon. Musk tweeted Saturday that “BTC & ETH do seem high lol,” referring to Bitcoin and the digital coin Ethereum. Musk’s tweet was part of a reply to a , chief market strategist for \ube44\ud2b8\uac9f \ud0b9\uc2a4\ucef5<\/a> brokerage firm Euro Pacific Capital, about the value of Bitcoin versus gold-backed currency.\u00a0<\/p>\n That said, BTC & ETH do seem high lol<\/p>\n \u2014 Elon Musk (@elonmusk) <\/p><\/blockquote>\n <\/div>\n <\/b><\/p>\n<\/p>\n <\/b><\/p>\n window.CnetFunctions.logWithLabel(‘%c One Trust ‘, “Service loaded: script_twitterwidget with class optanon-category-5”);<\/p>\n<\/p>\n <\/figure>\n <\/u><\/strong><\/p>\n In an interview with , Gates gave his thoughts on Bitcoin and the idea that it can be affected so dramatically by a tweet from Musk.\u00a0<\/p>\n “I’m not bullish on Bitcoin” he said. “If you have less money than Elon, you should probably watch out.”<\/p>\n <p lang="en" dir<\/p>\n \u2014 Bloomberg Technology (@technology) <\/p><\/blockquote>\n <\/div>\n <\/strong><\/u><\/p>\n<\/p>\n <\/b><\/p>\n window.CnetFunctions.logWithLabel(‘%c One Trust ‘, “Service loaded: script_twitterwidget with class optanon-category-5”);<\/p>\n<\/p>\n <\/figure>\n <\/b><\/p>\n Gates also expressed concern about Bitcoin’s massive use of energy, similar to a point Yellen made during the DealBook conference on Monday. She remarked about how the amount of energy used for the transactions is “staggering.”\u00a0<\/p>\n “I don’t think that Bitcoin \u2026 is widely used as a transaction mechanism,” she said, according to . “To the extent it is used I fear it’s often for illicit finance. It’s an extremely inefficient way of conducting transactions, and the amount of energy that’s consumed in processing those transactions is staggering.”<\/p>\n Bitcoin and \ube44\ud2b8\uac9f \ud0b9\uc2a4\ucef5 other require a lot of computing power in order for people to conduct transactions. These heavy computer calculations, also known as mining, need a huge amount of power — .\u00a0<\/p>\n For most of 2020, Bitcoin rallied from its low of just shy of $5,000 in April to jump past $29,000 by the end of the year.\u00a0<\/p>\n \n <\/p>\n<\/b><\/p>\n<\/span><\/span>
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