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Etheruem Skyrockets After Elon Musk Invests | How Does Crypto Get Its Value?

21 July 2021, 05:07 pm Crypto is currently taking the world by storm, and that s an understatement. Values for various types of cryptocurrencies have skyrocketed, with old reliable bitcoin still leading the race. Its closest competitors, however, still can t be counted out. (Photo : Ulrich Baumgarten via Getty Images) GERMANY, BONN - APRIL 06: This illustration photo shows various dollar banknotes and physical Bitcoin, Ripple, Litecoin and Ethereum coins, on April 06, 2021 in Bonn, Germany.  For instance, the value of Ethereum (considered to be Bitcoin s primary rival) just skyrocketed to over $2,000 after Elon Musk said he invested in it, writes The Independent. This is still far from bitcoin s current value at almost $32,000 at the time of this writing, but $2000 and up is still a lot of money. That s, of course, the value of something that you ll never even lay your actual hands-on because it s all digital. 

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