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Cryptoknowmics 2022-03-14 07:13:44

‘I Still Own and Won’t Sell My Bitcoin, Ethereum or Doge’, Says Elon Musk

The rate of U.S. inflation had consumer price inflation skyrocketing to a 40 year high last week, in addition to a sharp increase in energy prices. In an attempt to control the soaring inflation, the Federal Reserve this week is all set to hike interest rates for the first time since the Covid-19 pandemic. Elon Musk Gives Out Inflation Advice On March 14, Tesla and SpaceX CEO, Elon Musk posted a question on Twitter about the likely rate of inflation over the next few years. Michael Saylor, the chief executive of MicroStrategy and a prominent Bitcoin bull replied to Musk saying: “consumer inflation will continue near all-time highs, and asset inflation will run at double the rate of consumer inflation” adding: “weaker currencies will collapse, and the flight of capital from cash, debt, and value stocks to scarce property like bitcoin will intensify.” MicroStrategy pivoted to bitcoin acquisitions over the last couple of years and currently holds just over 125,000 bitcoins, valued at $4.8 billion at the time of writing. 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. — Michael Saylor⚡️ (@saylor) March 14, 2022 “It is not entirely unpredictable that you would reach that conclusion,” Musk responded, referring to Sa...

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‘I Still Own and Won’t Sell My Bitcoin, Ethereum or Doge’, Says Elon Musk

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