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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% 80 $16 850.61 2.23% 2.05% $323 880 775 090 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 65.2% 79 $1 264.86 4.07% 8.41% $154 786 411 293 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 94.4% 1 $0.999917 0.02% 0.08% $65 357 268 959 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 70% 67 $299.27 -1.26% 0.72% $47 873 891 086 BNB 7 days price change
5 USD Coin (USDC) USDC USD Coin predictions 94.8% 1 $0.999988 -0.01% -0.02% $43 305 846 022 USDC 7 days price change
6 Binance USD (BUSD) BUSD Binance USD predictions 92.4% 1 $1.000272 0.01% 0.02% $22 171 401 519 BUSD 7 days price change
7 XRP (XRP) XRP XRP predictions 64.8% 66 $0.400157 1.69% 6.60% $20 123 918 447 XRP 7 days price change
8 Dogecoin (DOGE) DOGE Dogecoin predictions 60.8% 85 $0.105031 1.44% 29.90% $13 934 589 528 DOGE 7 days price change
9 Cardano (ADA) ADA Cardano predictions 59.2% 81 $0.314538 1.02% 0.17% $10 833 319 810 ADA 7 days price change
10 Lido stETH (STETH) STETH Lido stETH predictions 93.6% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
11 Polygon (MATIC) MATIC Polygon predictions 62.4% 72 $0.868577 3.45% 1.53% $7 586 427 443 MATIC 7 days price change
12 Polkadot (DOT) DOT Polkadot predictions 68.4% 67 $5.39 1.58% 0.44% $6 144 181 845 DOT 7 days price change
13 Dai (DAI) DAI Dai predictions 91.2% 1 $0.999740 0.01% -0.01% $5 653 688 069 DAI 7 days price change
14 Litecoin (LTC) LTC Litecoin predictions 62.8% 74 $78.05 1.92% -0.16% $5 598 468 272 LTC 7 days price change
15 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 69.2% 66 $0.053816 0.24% 5.92% $5 471 826 904 WTRX 7 days price change

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