Tesla CEO Elon Musk said that he still has cryptocurrencies and will not sell them.
Elon Musk at night “What do you think about the likely inflation rate for the next few years?” Michael Saylor, CEO of MicroStrategy, responded to this tweet. Saylor said, “Consumer inflation will continue close to all-time highs and asset inflation will be twice that of consumer inflation. Weaker currencies will collapse and the flight of capital from cash, debt and value stocks to scarce assets like #Bitcoin will intensify.”
Responding to Saylor’s statements, Tesla CEO said:
“As a general principle, for those seeking advice on this topic, stock in companies that you think make good products instead of dollars when inflation is high. It’s usually better to have physical things like a stock or house.
I still own Bitcoin, Ethereum or Doge and will not sell it for whatever reason.”
Although there has been a rise in Dogecoin after these statements of Elon Musk, the popular meme cryptocurrency then withdrew.
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