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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 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.

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 to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

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    Author

    Milko Trajcevski has been in the crypto world for years, and as such has gathered both a skill for writing as well as a native prowess when it comes to understanding everything that occurs within that world. Through skilled writing and determination, he covers articles about cryptocurrency, tokens, blockchain, crypto-asset regulations, crypto wallets, exchanges, liquidity, DApps, forks, mining, security, and blockchain technologies. He is a professional with a track record of proven expertise within the crypto space.