Tesla founder has no plans to get rid of his crypto assets
Tesla CEO Elon Musk expressed concern about rising inflation. At the same time, he stated that he did not intend to get rid of his cryptocurrency savings.
The entrepreneur asked the opinion of Twitter users about the forecast of inflation growth in the near future. MicroStrategy CEO Michael Saylor responded that US dollar consumer price inflation will continue to hit all-time highs. As for inflation of assets, it will exceed the growth rate of consumer inflation by 2 times.
Sailor sees weaker currencies depreciating as more money flows out of fiat, debt and undervalued stocks into assets like bitcoin.
Elon Musk partially agreed with Saylor’s opinion. In his opinion, when inflation is high, it is preferable to invest in physical assets, stocks of reliable companies or real estate.
The Tesla founder emphasized that he still holds BTC, ETH and DOGE and does not plan to sell them, regardless of market conditions. After another message from Musk, the value of these digital currencies began to rise.
The Dogecoin exchange rate on the Binance crypto exchange rose by 10% to $0.12. Ethereum has reached almost $2,600 and the first crypto coin is worth more up to $39,000.
US investor and entrepreneur Robert Kiyosaki also remains optimistic about digital assets. Earlier, he spoke about the feasibility of investing in gold, silver and BTC, which the businessman called effective insurance against inflation.
And Microsoft co-founder Bill Gates considered it necessary to warn people against investing in the main cryptocurrency, believing that only billionaires can afford to own bitcoins. He took the opportunity to criticize BTC due to the fact that Elon Musk’s Twitter messages can influence its price.
Meanwhile, the bitcoin rate has grown by more than 1000% in 2 years. The capitalization of the crypto coin reached $742 billion, according to CoinGecko.
In November last year, the price of bitcoin hit an all-time high, rising to $69,000. Since then, the coin has fallen in price by 43%, but continues to show growth dynamics from year to year.