Elon Musk suddenly revealed that he was collecting a lot of digital money, determined not to sell a single penny!
In the post, the 50-year-old billionaire urged people to “stay away” from other assets such as real estate or stocks instead of holding USD in the current inflation situation. At the end of the post, the Tesla CEO also did not forget to declare that he still owns and will not sell a single Bitcoin, Ethereum or Dogecoin coin in his portfolio.
Elon Musk said he has never sold a single BTC, ETH or DOGE coin
Billionaire Elon Musk first confirmed holding BTC, ETH and DOGE at The B Word conference in June 2021. After stopping accepting BTC payments due to environmental concerns, Tesla turned its attention to Dogecoin, accepting DOGE payments in January 2022. However, both Musk and the company he leads have confirmed they will continue to hold $1.5 billion worth of BTC investments.
Supporting the view about the terrifying inflation rate in the US above, MicroStrategy founder Michael Saylor also predicted: “Consumer inflation will continue to rise to all-time highs, asset inflation will even more than double. Weaker currencies will collapse completely. Inflows from cash, debt and equities will gradually shift to ‘scarce’ assets like Bitcoin.”
Cryptocurrencies are said to be a safe “haven” amid inflation
It is known that the US is facing a very serious “wave” of inflation since October 2021. At one point, inflation in this country hit a four-decade high. This is a consequence of the Fed’s policy of injecting money into the market and reducing interest rates since the COVID-19 pandemic broke out in early 2020 to prop up the economy. However, when the market showed signs of recovery, inflation got out of control.
Most recently, on the evening of March 10, the US announced that inflation in February 2022 continued to reach 7.9% – the highest level in the past 40 years, causing prices to fall. Bitcoin “ride a roller coaster” in just 15 minutes.
Cryptocurrency, commonly known as “virtual currency”, has not been recognized by law in Vietnam. The information in the article is for reference only and has no investment recommendation value.
at Blogtuan.info – Source: Kenh14.Vn – Read the original article here
