Elon Musk will not sell his Bitcoin, Ethereum and Dogecoin. The eclectic CEO of Tesla said this in a tweet in response to Michael Saylor, CEO of Microstrategy.
Elon Musk holds on to his Bitcoin
It all stems from an initial tweet in which Elon Musk asked his followers what they thought about inflation in the US.
What are your thoughts about probable inflation rate over next few years?
- អែលម៉ូនស្គល់ (@elonmusk) ខែមីនា 13, 2022
This tweet was answered by ម៉ៃឃើលសាយក្លរ, CEO of Microstrategy. Before going any further, it is worth noting that Microstrategy and Tesla are two of the companies that have a significant amount of Bitcoin on their balance sheets.
Saylor commented:
“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”.
Elon Musk’s response hints at a partial understanding:
“It is not entirely unpredictable that you would reach that conclusion”.
បន្ទាប់មកគាត់បានបន្ថែមទៀតថា៖
“ជាគោលការណ៍ទូទៅ សម្រាប់អ្នកដែលកំពុងស្វែងរកដំបូន្មានពីខ្សែស្រឡាយនេះ ជាទូទៅវាជាការប្រសើរក្នុងការធ្វើជាម្ចាស់របស់របរជាក់ស្តែង ដូចជាផ្ទះ ឬភាគហ៊ុននៅក្នុងក្រុមហ៊ុនដែលអ្នកគិតថាផលិតផលិតផលល្អ ជាងប្រាក់ដុល្លារ នៅពេលអតិផរណាខ្ពស់។
I still own & won’t sell my Bitcoin, Ethereum or Doge fwiw”.
Bitcoin ជាជម្រកសុវត្ថិភាព
With these words, Elon Musk seems to confirm that he considers cryptocurrencies, or rather, those three cryptocurrencies mentioned, as a safe haven asset that may not be affected by what will happen to the US dollar.
This is the debate that is engaging many analysts these months: can Bitcoin provide a hedge ប្រឆាំងនឹងអតិផរណា? Certainly BTC’s policy is deflationary: the amount of BTC that can ever be mined is fixed at 21,000,000 coins, so this should lead to an increase in the price precisely because of its low availability.
It is a different matter if we talk about Ethereum and Dogecoin, which do not have a limited supply. So their appreciation depends not only on the tokens in circulation but also very much on the technical progress of their respective projects.
ក្នុងករណីខ្លះ, BTC, ETH and DOGE are increasingly moving out of the niche and into the mainstream.
End of the Musk effect
Despite these statements, the three cryptocurrencies brought up are not experiencing the usual price pump. On the contrary, at the time of writing this article, Bitcoin is losing 0.85% and stands just below $39,000.
Ethereum is just below parity, -0.30% at $2,500 in value.
Dogecoin also loses 1.16% and is now trading at 11 cents on the dollar.
នេះគឺជាសញ្ញាមួយ the market has become disengaged from the words of Elon Musk who at other times managed to drive the price of Bitcoin and Dogecoin up and down with his tweets.
Source: https://en.cryptonomist.ch/2022/03/14/elon-musk-im-not-selling-my-bitcoin-ethereum-and-dogecoin/