Elon Musk Announces That He Is Not Selling His Bitcoin and Names the Assets Worth Holding

Elon Musk is one of the world’s richest people who has been very vocal within the cryptocurrency sector and has recently revealed what assets he thinks are good to hold, specifically at times when inflation is high.

Elon Musk is one of the world’s richest people and has been extremely vocal in the cryptocurrency sector. Recently the mogul revealed which assets he believes are good to hold, especially during a time when inflation is high.

Elon Musk Is Holding Onto His Cryptocurrency Holdings – Including Bitcoin

Elon Musk, the CEO of Tesla and SpaceX, made an official Twitter post on March 13th, 2022, where he revealed that the aforementioned companies are currently under pressure due to increased inflation. Additionally, Musk also shared his perspective on which assets it is best to own as inflation rises. 

Musk also shared an article from the Financial Times, in which it was discussed that global commodity prices are on track to see their biggest rally in over 50 years as a direct result of the conflict between Russia and Ukraine.

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CEO of MicroStrategy Michael Saylor, replied to Musk’s tweet, claiming that: “USD consumer inflation will continue near all time highs, and asset inflation will run at double the rate of consumer inflation.

Musk further claimed that, when inflation is high, it is generally better to own physical assets such as a home, or stock in companies that people think make good products, rather than dollars, and noted that he would not be selling his Bitcoin (BTC), Ethereum (ETH) or Dogecoin (DOGE).

In Crypto Twitter and other Crypto–focused social media, a video from last year is circulating again in which Bill Gates shared his opinions about Bitcoin and Elon Musk.

On the Flipside

Why You Should Care

There will always be some level of volatility with any currency, and influential figures believe that by holding onto USD, you might be putting your holdings at risk. The result of this suggestion has been that a lot more people have been making investments into company stocks, as well as into cryptocurrencies.

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This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Milko Trajcevski

Milko Trajcevski is a DailyCoin news reporter, mainly focused on Ethereum (ETH), Cardano (ADA), and their founders (Vitalik Buterin and Charles Hoskinson). Milko is an avid follower of crypto and blockchain technology and has written thousands of articles on the subjects. He finds joy in transforming complex issues into written content that anyone can understand. Milko has used and analyzed numerous exchanges, such as Coinbase, FTX, and Binance. He also closely follows all of the latest news around the largest decentralized exchanges (DEXs). Location: Skopje, Macedonia