No Monday blues for crypto enthusiasts, as their favourite Crypto-buddy and Tech Giant Elon Musk reveals that he owns Bitcoin, Ethereum and Doge and won’t be selling them.
In a Twitter exchange, both Elon Musk and the crypto pundit Michael Saylor predicted the inflation rate over the next few years. The exchange started when Elon Musk asked about the probable inflation rate over the next few years.
In Brief:
- Michael Saylor predicted that US Dollars inflation would continue near all time highs.
- Elon Musk in a general advice tone tweeted that it’s better to own physical things like a home/ stock in companies instead of dollars.
To which the response from Michael Saylor explained that the US dollar inflation would continue near all time highs and asset inflation would continue to go at double the rate of consumer inflation.
Saylor further explained that weaker currencies would collapse, and the flight of capital from cash, debt & value stocks to scarce property like Bitcoin will intensify.
However, towards the end of the conversation, Elon Musk in a ‘general advice tone’ tweeted that it’s better to own physical things like a home or stock in companies you think make good products instead of dollars when inflation is high.
He also revealed that he does not plan to sell any of his cryptocurrencies.
Elon Musk’s opinions on crypto space have never failed to get Twitteratti’s wild. Infact, the last time he spoke about Dogecoin, the coin pumped the trading price to 0.15 from 0.136. It all started when he proposed that he would eat a happy meal on TV if Dogecoin is accepted by McDonald’s.
