Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • Email Alerts
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • Email Alerts
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Elon Musk Says He Won’t Sell Bitcoin (BTC) and Two Other Crypto Assets Amid Rising Inflation

by Daily Hodl Staff
March 15, 2022
in Altcoins, Bitcoin, Ethereum

Tesla CEO Elon Musk is revealing plans to continue holding on to the cryptocurrencies he owns as inflation in the US reaches a four-decade high.

Musk says in a tweet that Tesla and SpaceX are feeling the effects of high inflation just like other corporations and households as the cost of living and doing business rises.

“Tesla and SpaceX are seeing significant recent inflation pressure in raw materials & logistics.”

Last week, the U.S. Bureau of Labor Statistics disclosed that the Consumer Price Index, a measure of the average change in prices in a basket of goods and services over time, rose to 7.9% year-over-year in February, the highest level since January of 1982.

Pointing to a Financial Times article covering the widespread global price increases for raw materials and commodities, Musk says that Tesla and SpaceX are “not alone.”

In response to Musk, the CEO of enterprise software firm MicroStrategy, Michael Saylor, says that rising inflation and the collapse of weaker national currencies will intensify a capital flight to Bitcoin (BTC) and other scarce assets.

“US dollar consumer inflation will continue near all-time highs, and asset inflation will run at double the rate of consumer inflation. Weaker currencies will collapse, and the flight of capital from cash, debt and value stocks to scarce property like Bitcoin will intensify.”

Adding to Saylor’s comment, Musk says that as a “general principle” owning “physical things” is better than US dollars during times of high inflation. Musk also says that he will keep holding the three crypto assets he already owns – Bitcoin, Ethereum (ETH) and Dogecoin (DOGE).

“As a general principle, for those looking for advice from this thread, it is generally better to own physical things like a home or stock in companies you think make good products, than dollars when inflation is high.

I still own and won’t sell my Bitcoin, Ethereum or Dogecoin for what it’s worth.”

Check Price Action

Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

 
Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/GrandeDuc

Submit a Press Release

Industry Announcements

  • Anonymous Turns to CultDAO for Support Against Unjust Government Actions
    May 12, 2022
  • Bnext Receives Additional $4.5 Million Investment, Led by Borderless Capital To Drive DeFi on Algorand
    May 12, 2022
  • Lina Valentina’s ‘No More’ NFT Collection Denounces Domestic Violence
    May 11, 2022
  • Cake DeFi Enters Into Esports With Competitive Gaming Platform FACEIT
    May 10, 2022
  • Introducing YUSE, the Ultimate Multi-Utility Token
    May 10, 2022
  • HUMAN Protocol Foundation Awards Grant to VeritaTrust To Build On-Chain Rewards for Reviews
    May 10, 2022
  • NUS Computing Joins Forces With TZ APAC To Develop Singapore’s Next Generation of Tech Innovators
    May 10, 2022
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$29,512.00
$29,512.00
1.73%
Ethereum
$2,005.63
$2,005.63
2.99%
BNB
$293.82
$293.82
1.89%
Cardano
$0.552435
$0.552435
0.02%
XRP
$0.415085
$0.415085
2.46%
Dogecoin
$0.086924
$0.086924
2.58%

Spotlight

  • After TerraUSD (UST) Depegging, Macro Guru Raoul Pal Says Stablecoin Regulation Could Be Coming
    May 10, 2022
  • Here’s the Worst-Case Scenario for Crypto Markets Amid Bitcoin (BTC) Crash, According to Analyst Benjamin Cowen
    May 13, 2022
  • Economist Alex Krüger Says These Two Conditions Could Solidify Bitcoin (BTC) Bottom at $30,000
    May 11, 2022
  • Two Ethereum-Based Altcoins Erupt in Defiant Rallies, Outrunning Bitcoin and Crypto Markets in Week of Wild Volatility
    May 14, 2022

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2022 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • Email Alerts
  • DAILY HODL MIX

© 2022 The Daily Hodl