Elon Mush Shares His Thoughts on How to Combat Rising Inflation Rates on Twitter; Michael Saylor Chimes In To Advocate for BTC

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Elon Musk, CEO of Tesla and current richest man in the world, asked his millions of Twitter followers regarding the ever-rising inflation rates in an effort to get a hold of what the investors all over the world currently think, amidst the continual downfall of fiat currency’s purchasing prowess.

Notably, within the past six months, major economies, such as the United States, the United Kingdom, Turkey, and Russia, all witnessed significant inflationary pressure due to worldwide disruptions and uncertainties brought by the ongoing COVID-19 pandemic and now wide-scale cross-border conflicts, namely Russia’s current invasion on Ukraine.

Not long after Musk posted his original question, MicroStrategy’s Michael Saylor chimed in. According to Saylor, capital cash flow will inevitably move away from conventional fiat currencies towards scarce assets, particularly Bitcoin (BTC). While Musk did complement the notion provided by the CEO of MicroStrategy, especially his imploration that investments would soon fall to scarce assets, he admits that he did expect Saylor to reach the said conclusion.

Unlike Musk, however, the general public, who soon joined the online discussion, did not see eye to eye with Saylor’s opinion, dismissing his take that BTC is an ideal hedge against inflation as nothing more but an advertisement for his sizeable personal investments towards the leading crypto.

In general, Elon Musk believes that it is indeed a good idea to invest in scarce assets. That being said, he argues that it is still better for investors to own physical properties, such as houses and company stocks, rather than digital assets. Nevertheless, Musk reaffirms that he has no plans to sell his crypto holdings amidst rising inflation as of the moment.

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