Here’s the takeaway from Saylor and Musk talking Bitcoin and inflation
ambcrypto.comWhat happens when two billionaires – or oligarchs, if you prefer – publicly talk about investments, inflation, and crypto online? You listen, of course.
The story started when Tesla CEO Elon Musk tweeted about his company feeling the effects of inflation and asked for opinions. Though many chimed in, Musk took the time to reply to MicroStrategy CEO Michael Saylor who claimed that rising inflation would trigger Bitcoin adoption at a mass level.
<p lang=«en» dir=«ltr» xml:lang=«en»>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
For his part, Musk delivered a promise of sorts, one that reassured many crypto-bulls. He claimed,
“I still own & won’t sell my Bitcoin, Ethereum or Doge fwiw [for what it’s worth].”
Furthermore, Musk asserted it is preferable to hold “physical things” like a home or company stocks, over dollars during inflationary periods.
This conversation was important as it revealed the public opinions of two crypto-whales regarding the future of the fiat-based world economy and the crypto-industry. What’s more, some investors might want to know whether the Musk x Saylor discussion did indeed help shift some prices.
However, Dogecoin was in the red at press time, while Bitcoin and Ethereum were struggling to stay in the green zone.
In fact, there may be larger factors at play as traders await the Federal Reserve’s decision on a rate hike. This is key for experts who are concerned by Bitcoin and Ethereum’s correlation with the S&P500’s movements this year.
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