Bitcoin
BTC$51 321.39

-1.01%

Ethereum
ETH$2 970.08

-0.04%

Tether
USDT$0.999407

-0.07%

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BNB$381.98

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Solana
SOL$101.64

-3.39%

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Elon Musk says he won’t sell crypto holdings amid inflation fears


16 Mar 2022

#Bitcoin

Revealing his investments in Bitcoin, ether, and dogecoin, Renowned billionaire Elon Musk said that he “won’t sell” his cryptocurrency holdings in a Twitter thread asking a question on the possible rate of inflation over the next few years. Musk reiterated his concerns on inflation in a tweet today, revealing a significant impact on Tesla and SpaceX over the rising prices in raw materials & logistics. Replying to his tweet, MicroStrategy CEO and Bitcoin proponent Micheal Saylor said:

“USD 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, & value stocks to scarce property like #bitcoin will intensify.”

Agreeing with Saylor’s comments, Musk noted that “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.” He added that he still owns and won’t sell his cryptocurrency holdings.

Both Saylor and Musk are some of the biggest proponents of cryptocurrency, with Tesla holding nearly $2 billion in bitcoin at the end of last year. MicroStrategy, on the other hand, holds over 125,051 bitcoins which is worth approximately $4.9 million at press time. Musk has several times contributed to rallies in the cryptocurrency market, bearish and bullish alike. With the latest tweet, Bitcoin erased its losses for today and was trading at $39,153.33, with a 24-hour price change of 0.86%.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 61.2% 78 $51 321.39 -1.01% -1.18% $1 007 692 041 556 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 63.2% 76 $2 970.08 -0.04% 5.19% $356 888 554 759 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 91.6% 1 $0.999407 -0.07% -0.15% $97 783 839 269 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 69.2% 63 $381.98 0.94% 7.61% $57 122 110 921 BNB 7 days price change
5 Solana (SOL) SOL Solana predictions 75.2% 53 $101.64 -3.39% -10.60% $44 820 445 776 SOL 7 days price change
6 XRP (XRP) XRP XRP predictions 86.8% 21 $0.540875 -1.48% -3.87% $29 509 391 184 XRP 7 days price change
7 USD Coin (USDC) USDC USD Coin predictions 96% 1 $1.000078 0.01% 0.01% $27 984 520 970 USDC 7 days price change
8 Cardano (ADA) ADA Cardano predictions 67.2% 64 $0.586269 -2.03% -3.60% $20 791 742 444 ADA 7 days price change
9 Avalanche (AVAX) AVAX Avalanche predictions 68.8% 61 $36.78 -2.34% -11.59% $13 873 006 300 AVAX 7 days price change
10 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 71.2% 60 $0.139158 -0.09% 6.33% $12 248 949 216 WTRX 7 days price change
11 TRON (TRX) TRX TRON predictions 71.2% 60 $0.138928 -0.56% 5.92% $12 228 675 321 TRX 7 days price change
12 Dogecoin (DOGE) DOGE Dogecoin predictions 88% 12 $0.084094 -0.63% -1.49% $12 040 838 074 DOGE 7 days price change
13 Chainlink (LINK) LINK Chainlink predictions 67.6% 68 $18.12 -2.55% -9.17% $10 638 341 760 LINK 7 days price change
14 Lido stETH (STETH) STETH Lido stETH predictions 91.6% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
15 Polkadot (DOT) DOT Polkadot predictions 76% 50 $7.49 0.22% -3.63% $9 603 442 412 DOT 7 days price change

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