Elon Musk Won’t Sell His Bitcoin, Ethereum And Doge And Challenges Putin To A Duel

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Last Updated on 15 March 2022 by CryptoTips.eu

Jeroen Kok

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With inflation running at a 40 year high in the US (it hit 7.9%) and the Federal Reserve expected to announce a heightening of interest rates soon, it is no surprise that on Monday, Tesla CEO Elon Musk and MicroStrategy CEO Michael Saylor got into a debate about Bitcoin and crypto holdings. Knowing that Saylor is accredited to having given Musk the idea for Tesla to invest into Bitcoin directly, the two have remained on speaking terms on social media ever since.

Things started to go awry as from there and by Tuesday morning, Elon had challenged Russian President Vladimir Putin to a fight as well.

Advertentie.

Elon refuses to sell Bitcoin

It all started when Musk admitted that Tesla and SpaceX are seeing a price rise for raw materials. He then asked his 70 million followers:

What are your thoughts about probable inflation rate over next few years?

Saylor was one of the people who replied, stating:

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.

Of course, with his company MicroStrategy owing a record number of Bitcoin, it is no wonder that Saylor should say this, and so the Tesla CEO replied:

It is not entirely unpredictable that you would reach that conclusion

He later followed up with:

As a general principle, for those looking for advice from this thread, 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. I still own & won’t sell my Bitcoin, Ethereum or Doge fwiw.