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Tesla (NASDAQ:TSLA) CEO Elon Musk on Monday said he still owns personal stakes in Bitcoin (BTC-USD), Ethereum (ETH-USD) and Dogecoin (DOGE-USD) and isn’t planning to sell, according to a Twitter post.
Looking at intraday cryptocurrency price action, bitcoin (BTC-USD -0.4%) is flat at $38.8K, ethereum inches lower to $2.56K and dogecoin (DOGE-USD -1.6%) edges down to $0.11. YTD, all three digital assets are down double digit percentage points.
Musk’s remarks came as part of a string of tweets questioning the level of inflation over the next few years. He agreed with MicroStrategy (NASDAQ:MSTR) CEO Michael Saylor’s view that “USD consumer inflation will continue near all time highs, and asset inflation will run at double the rate of consumer inflation.” Musk responded, “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.” Remember consumer price inflation in the U.S. surged 7.9% Y/Y in January, the highest level in 40 years.
In May 2021, Elon Musk said he strongly believes in crypto.
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