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Elon Musk has still got it. On Monday early morning, cryptocurrency markets briefly went up a few percent with Dogecoin spiking as much as 10% after the Tesla CEO and ‘Dogefather’ told the world that despite inflationary concerns, he will not be selling his crypto holdings, Bitcoin, Ethereum and Dogecoin.
Musk told his 77.6 million Twitter followers:
“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.”
Musk started the tweet by asking what people think of inflation to come:
It had been a while that Musk attempted to ‘pump’ crypto and the popular meme coin DOGE. Early May of 2021 he ignited a rocket sending the coin to an all-time high of $0.6848.
This year, Musk’s electric vehicle manufacturing company Tesla started accepting DOGE payments on its merchandise store.
At the time of writing, Bitcoin and Ethereum are trading at $39,145 and $2,995 for minimal gains in the last 24 hour. Dogecoin is moving hands at $0.1154 per coin, losing half percent over the same period.