The world’s richest man, Elon Musk said that he won’t sell his BTC, ETH, and DOGE and also revealed what assets he thinks is good to hold when inflation is high.
Elon Musk tweeted that the company he leads -TESLA – is under pressure due to increasing inflation. He also shared his point of view on what assets are better to hold during high inflation.
- The man behind SpaceX and Tesla recently tweeted that both companies are under pressure because of an increase in inflation resulting in high product prices.
- Elon posted an article from the financial times, debating about global product prices are on track to see the massive weekly come back in more than 50 years because of the war between Ukraine and Russia.
- ‘Michael Saylor’ the CEO of MicroStrategy commented under Musk’s post, He said:
USD consumer inflation will continue to increase, and asset inflation will move at double the rate of consumer inflation. Feeble currencies will crumble and the flight of capital from debit, cash and value stocks to rare property like Bitcoin will intensify.
- Elon replied that it’s not shocking that Saylor would reach that judgment. To his idea, Saylor’s company has over 125,000 BTC, and he is one of the cryptocurrency’s most oral supporters.
- Nonetheless, Elon also gives his thoughts on what assets he thinks are good to hold under the current mess.
- He also summarizes that he still owns and has no intentions of selling his Ethereum, Dogecoin, and Bitcoin.
For those who are looking for advice from this scenario, it is normally better to hold physical things like stock in companies or homes you believe make good products than dollars during high inflation.