Elon Musk talks about continued inflation
Often shared by Elon Musk on Twitter From his continued interest in cryptocurrency, in particular Bitcoin (BTC), Ether (ETH), and Dogecoin (DOGE). He then asked his community what they thought of future inflation, which should remain very present in the coming years.
What are your thoughts on the possible rate of inflation over the next few years?
– Elon Musk March 13, 2022
The billionaire asserts that his two companies, Tesla and SpaceX, are currently facing inflationary pressures, especially in terms of raw materials and logistics. In response, Michael Saylor, CEO of MicroStrategy, shared his analysis of the situation, Which is not surprising that he is very pro-Bitcoin :
Consumer inflation in US dollars will continue to be near all-time highs, and asset inflation will reach twice the rate of consumer inflation. Weaker currencies will collapse, capital will flee from cash, debt and valuable stocks to rare possessions such as property # bitcoin will intensify.
– Michael Saylor March 14, 2022
Saylor believes that dollar-related inflation will continue to approach record levels, and that will doubly be the case for other assets. Hence, he imagines that capital flight will benefit For assets whose problem is limited, such as Bitcoin. We remind you that it is impossible to create BTC more than 21 million schemes, unlike, for example, the dollar.
👉 Going Ahead – Why Are There 21 Million Bitcoins?
Bitcoin, Ether, and Dogecoin Masks
Elon Musk told Michael Saylor that his analysis was to be expected, and he benefited from it To advise those who wish to protect their assets As inflation starts to run:
As a general principle, for those looking for advice from this topic, it is generally better to own physical things like a home or stock in companies you think make good products, rather than dollars when inflation is high.
I still own and will not sell Bitcoin, Ethereum or Doge fwiw.
– Elon Musk March 14, 2022
Thus it is suggested Encouraging investment in tangible items, such as a house, or shares in companies that appear to offer high-quality products. He also advises against holding his money in dollars, and stresses that he has no intention of selling his cryptocurrency. Musk explains:
“I still hold I will not sell My Bitcoin, My Ethereum [sic] or doji.»
Elon Musk is known for his passing passion, and some believe his love for cryptocurrency may fade over time. But it looks like the billionaire will be an amateur for years to come.
He is not the only person who has turned his attention to cryptocurrencies in these turbulent times. Bitcoin (and other cryptocurrencies in general) were created To work independently of paper currencyTo combat inflation. Will they see their coming in the coming years? That’s the bet that part of the crypto community is betting.
👉 On the same topic – Tesla now accepts payments in Dogecoin (DOGE)
Image source: Daniel Oberhaus via Flickr (CC BY 2.0)
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