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Tesla CEO Elon Musk has confirmed that he nonetheless owns Bitcoin, Ethereum and Dogecoin and has no intention of promoting.
SpaceX CEO Elon Musk Nonetheless Owns and Will not Promote His Bitcoin, Ethereum, and Dogecoin Holdings
Yesterday, Tesla’s CEO requested his followers about: Twitter about their ideas on probably inflation within the coming years.
One of many solutions was that shopper inflation within the USD will proceed close to its all-time excessive, whereas asset inflation will double. The individual additionally mentioned that weaker currencies would collapse and extra money would are available scarce commodities like Bitcoin.
Elon Musk replied with “It is not completely unpredictable that you simply come to that conclusion.” He continued in a sequence tweet, providing some basic recommendation to the thread’s readers, saying it is higher to personal bodily entities like a home or inventory in firms that make good merchandise, relatively than {dollars} in occasions of disaster. excessive inflation.
As a basic precept, for these looking for recommendation on this thread, it is typically higher to personal bodily issues like a home or inventory in firms you assume make good merchandise than {dollars} when inflation is excessive.
I nonetheless don’t personal and won’t promote my Bitcoin, Ethereum or Doge fwiw.
— Elon Musk (@elonmusk) March 14, 2022
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Musk additionally added, “I nonetheless personal and won’t promote my Bitcoin, Ethereum or Doge fwiw.” The Tesla CEO has at all times proven a robust supporter of crypto and has grow to be probably the most well-liked figures within the area.
Easy tweets from Musk have typically proved sufficient to spark rallies for cash like Dogecoin. Specifically, the SpaceX CEO’s affection for the memecoin has earned him the title of “DOGE Father.”
This tweet additionally precipitated a pointy spike within the worth of Dogecoin. The chart beneath exhibits the development within the worth of the unique memecoin over the previous day:
The worth of DOGE appears to have proven a pointy spike over the previous twenty-four hours | Supply: DOGEUSD on TradingView
As you’ll be able to see within the chart above, the worth reached about $0.12 after the sharp uptrend, rising about 10%.
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Since then, nevertheless, the worth has fallen once more. Nonetheless, Dogecoin continues to be up virtually 4% within the final 24 hours.
BTC and ETH worth
On the time of writing, Bitcoin’s worth is hovering round $38.9k, up 1% over the previous seven days. Over the previous month, the crypto has fallen 7% in worth.
Here’s a chart displaying the development within the worth of BTC over the previous 5 days.
BTC's worth appears to be like to have largely moved sideways in the previous couple of days | Supply: BTCUSD on TradingView
As for Ethereum, it’s presently buying and selling round $2.5k, up 2% over the previous week. Up to now month, the crypto has been within the crimson by 10%.
Ethereum's worth has additionally consolidated sideways lately | Supply: ETHUSD on TradingView
Featured picture from Unsplash.com, charts from TradingView.com
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