Elon Scissorhands: Musk Isn’t About to Sell Bitcoin

Cryptocurrencies against inflation – Every tweet fromElon Musk It is commented, shared and analyzed by a large part of the Twitter world. man with approx 78 million followers He is indisputably one of the most important crypto influencers on the planet. And while there is a fileeconomic inflation Reaching record numbers across all sectors of the global economy, Elon Musk has hinted that Bitcoin and cryptocurrencies will have a role to play. He is not the only one…

The conflict in Ukraine as a catalyst for the already creeping inflation

Between December 2020 and December 2021, inflation rose from 0.3% to 5.3% in Europe According to Eurostat – Statistical Office of the European Union. Despite the evidence, month after month, those responsible for central banks Make it clear that this phenomenon will be temporary before reviewing itself permanently. But we haven’t seen anything yet! After a brief period , The conflict in Ukraine fires. The international community decides to take Penalties economic against Russia. And there, prices literally broke through the roof.

International prices for Raw materials On their way to the biggest weekly gathering in over 50 years! S&P GSCI Index – which acts as a barometer of commodity prices in Chicago – jumped 16% this week Biggest increase Since the seventies. A barrel of oil tickles its records for 2008, while the price of a ton of wheat, aluminum, coal, natural gas and even nickel fly away Literally.

Events in Russia and Ukraine lead to extraordinary movements in commodity prices, which can have long-term structural effects on supply. »

Dominic O’Kane, analyst at JPMorgan – Source: Financial Time

But what is Elon Musk doing in this story, you may ask yourself? Well, as the CEO of Tesla and SpaceX, the businessman is also affected by the economic situation. Above all, he likes to express his opinion.

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While Tesla and SpaceX Under Pressure, Musk Holds Bitcoin…

Seeking to engage with his community, the tech mogul asked Twitter what he thought of Inflation rate in the next years :

Elon Musk gave his Twitter community tips to combat the inflation hitting the global economy.
Source: Official Elon Musk Twitter

In continuation of this tweet, he provided some details about his companies that suffer from high prices Raw materials and costs related to logistics. Adding that he was clearly not the only one in this situation:

Elon Musk gave his Twitter community tips to combat the inflation hitting the global economy.
Source: Official Elon Musk Twitter

Then suddenly another celebrity influencer Bitcoin entered the discussion. Michael SaylorThe man with laser eyes – He came to give his opinion on the matter. for him, ” Consumer prices and the prices of financial assets will continue to rise while weaker currencies collapse (…) and then liquidity will move to scarce assets… such as BitcoinElon Musk didn’t fail in MicroStategy CEO’s cabin by responding to that“It was not entirely unexpected that he came to this conclusion.” In fact, Saylor tends to put everything back into Bitcoin in terms of economics, especially since his company has at least 125,000.

Elon Musk gave his Twitter community tips to combat the inflation hitting the global economy.
Source: Official Elon Musk Twitter

In conclusion, Elon Musk will give his community a scope Advice next one:

“As a general rule (…) it is generally preferable to have tangible assets such as a house or shares in companies- For you Making good products, instead of dollars when inflation is high. »

Before he remembers that He still owns and will not sell his bitcoins, ethereum, and dogecoins (just my opinion)”. And that little sentence must have delighted the entire crypto world that has been in need of good news in recent months!

Elon Musk gave his Twitter community tips to combat the inflation hitting the global economy.
Source: Official Elon Musk Twitter

Elon Musk has a talent for talk about it on Twitter, regardless of their location. Some accuse him of manipulating cryptocurrency prices while others revere him as a mentor. He is undoubtedly a successful businessman who once again made headlines with starlink to help Ukraine.

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