Elon Musk Sees Bitcoin, Ether and Dogecoin as Inflation Protection

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.

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 :

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.

πŸ‘‰ 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:

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.Β»

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.

πŸ‘‰ 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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About the author: Navy Debelloir

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Cryptoast Deputy Editor, I fell into the crypto destiny a few years ago. I am excited about the innovative technologies that stem from blockchain and would like to find the most fragile information to share with you.
All items are from Marine Debelloir.

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