As we all know, Tesla CEO Elon Musk cashed out a large amount of cash at the high Tesla stock price in the past few months, but did not sell his cryptocurrency holdings.
Musk took to social media today to explain why he chose to do so.
Musk asked himself:
What are your thoughts on possible inflation over the next few years?
He said that Tesla and SpaceX are not alone, and that other companies, like other companies, have faced huge recent inflationary pressures in terms of raw materials and logistics.
Then MicroStrategy CEO Michael Saylor replied to Musk:
Dollar consumer inflation will continue to be near record highs, and asset inflation will run at twice the pace of consumer inflation. Weaker currencies will collapse and capital will intensify the flow of capital from cash, debt and value stocks to scarce assets like bitcoin.
Musk replied that it is completely predictable that you will come to this conclusion.
and a very serious answer:
As a general principle, for those seeking advice from this thread, it is better to hold USD in a company that owns a physical home or has a good product in a situation of high inflation.
I still hold and will not sell my Bitcoin, Ethereum or Dogecoin. FYI (fwiw, for what it’s worth).
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/what-to-do-with-the-great-inflation-musk-i-choose-bitcoin-ethereum-or-dogecoin/
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