Bitcoin
BTC$24 129.38

4.39%

Ethereum
ETH$1 804.53

5.98%

Tether
USDT$1.000145

0%

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BNB$331.99

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XRP$0.382330

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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 76% 40 $24 129.38 4.39% 4.16% $461 254 701 638 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 65.6% 74 $1 804.53 5.98% 8.69% $219 936 602 750 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 92.4% 1 $1.000145 0% -0.01% $66 486 165 109 USDT 7 days price change
4 USD Coin (USDC) USDC USD Coin predictions 92.4% 1 $0.999924 0% 0.01% $54 212 170 056 USDC 7 days price change
5 Binance Coin (BNB) BNB Binance Coin predictions 68% 61 $331.99 4.39% 16.48% $53 562 837 067 BNB 7 days price change
6 XRP (XRP) XRP XRP predictions 79.6% 40 $0.382330 2.12% 1.69% $18 483 019 171 XRP 7 days price change
7 Cardano (ADA) ADA Cardano predictions 74.8% 52 $0.543298 4.60% 6.44% $18 337 708 125 ADA 7 days price change
8 Binance USD (BUSD) BUSD Binance USD predictions 95.2% 1 $1.000576 0.04% 0.21% $17 888 223 823 BUSD 7 days price change
9 Solana (SOL) SOL Solana predictions 74.8% 44 $43.21 6.94% 2.89% $15 048 127 510 SOL 7 days price change
10 Polkadot (DOT) DOT Polkadot predictions 69.2% 58 $9.31 8.45% 10.51% $10 288 809 309 DOT 7 days price change
11 Lido stETH (STETH) STETH Lido stETH predictions 94.8% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
12 HEX (HEX) HEX HEX predictions 70% 62 $0.054472 8.20% 10.77% $9 446 016 831 HEX 7 days price change
13 Dogecoin (DOGE) DOGE Dogecoin predictions 82.8% 27 $0.071055 2.78% 4.16% $9 426 956 868 DOGE 7 days price change
14 Avalanche (AVAX) AVAX Avalanche predictions 69.2% 69 $30.28 10.86% 30.10% $8 614 953 421 AVAX 7 days price change
15 Polygon (MATIC) MATIC Polygon predictions 64.8% 77 $0.946930 3.64% 4.99% $7 608 398 583 MATIC 7 days price change

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