{"id":10634,"date":"2022-03-14T08:19:39","date_gmt":"2022-03-14T08:19:39","guid":{"rendered":"http:\/\/egrowonline.com\/?p=10634"},"modified":"2022-03-14T08:19:39","modified_gmt":"2022-03-14T08:19:39","slug":"elon-musk-says-own-physical-things-but-wont-sell-bitcoin-doge","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=10634","title":{"rendered":"Elon Musk Says &#8216;Own Physical Things&#8217; but Won&#8217;t Sell Bitcoin, Doge"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<ul class=\"summary-list summary-list-variant\">\n<li>Elon Musk on Monday advised his Twitter followers to own &#8220;physical things&#8221; when inflation is high.<\/li>\n<li>He seemed to make an exception for bitcoin, ether, and dogecoin, saying he won&#8217;t sell his holdings.<\/li>\n<li>Musk, the world&#8217;s richest person, said in 2020 he wants to sell &#8220;almost all&#8221; his physical belongings.<\/li>\n<\/ul>\n<div class=\"inline-newsletter-signup &#010;                        headline-regular loading\" id=\"formContainer\" data-component-type=\"inline-newsletter-module\" data-event-label=\"10_things_markets\" data-list=\"10 Things Before the Opening Bell\" data-acq-source=\"marketsverticalinline\">\n<section class=\"inline-newsletter-content\">\n<div class=\"js-loader hidden\">\n                        <title>Loading<\/title><br \/>\n                        Something is loading.<\/p><\/div>\n<\/section><\/div>\n<p>Elon Musk advised Monday that it&#8217;s better to own &#8220;physical things&#8221; like homes and stocks \u2013 but added that he won&#8217;t sell his bitcoin, ether, and dogecoin holdings.<\/p>\n<p>Musk, CEO of Tesla and SpaceX, and the world&#8217;s richest person, said it was better to own physical things instead of US dollars when inflation was running high. He appeared to make an exception for cryptocurrencies, though.<\/p>\n<p>In a <a target=\"_blank\" href=\"https:\/\/twitter.com\/elonmusk\/status\/1503123611988766730\" data-analytics-module=\"body_link\" rel=\"noopener\">Twitter thread<\/a> discussing inflation, Musk said: &#8220;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.&#8221;<\/p>\n<p>He added: &#8220;I still own &amp; won&#8217;t sell my Bitcoin, Ethereum or Doge fwiw.&#8221;<\/p>\n<blockquote class=\"twitter-tweet blockquote\" data-lang=\"en\" data-cards=\"\" data-conversation=\"\"><p>\u2014Elon Musk (@elonmusk) <a target=\"_blank\" href=\"https:\/\/twitter.com\/mims\/statuses\/1503222294277197829\" rel=\"noopener\">March 14, 2022<\/a><\/p><\/blockquote>\n<p>\u00a0<\/p>\n<p><a target=\"_blank\" href=\"https:\/\/www.businessinsider.com\/inflation-cpi-price-growth-gas-prices-february-2022-3?utm_medium=ingest&amp;utm_source=markets\" data-analytics-module=\"body_link\" rel=\"noopener\">Inflation in the US<\/a> hit 7.9% year-on-year in February, its highest since 1982, according to the <a target=\"_blank\" href=\"https:\/\/www.bls.gov\/news.release\/cpi.nr0.htm\" data-analytics-module=\"body_link\" data-analytics-post-depth=\"40\" data-uri=\"beac4cb8eb3a5601a9a60273be751edd\" rel=\"noopener\">Bureau of Labor Statistics.<\/a><\/p>\n<p>Tesla and SpaceX were &#8220;seeing significant recent inflation pressure in raw materials &amp; logistics,&#8221; Musk <a target=\"_blank\" href=\"https:\/\/twitter.com\/elonmusk\/status\/1503184467397128194?s=20&amp;t=gkgcU91dxxpjvPYrmF43Ow\" data-analytics-module=\"body_link\" rel=\"noopener\">said<\/a> Monday.<\/p>\n<p>Musk <a target=\"_blank\" href=\"https:\/\/www.businessinsider.com\/elon-musk-selling-belongings-house-tesla-stock-2020-5?utm_medium=ingest&amp;utm_source=markets\" data-analytics-module=\"body_link\" data-analytics-post-depth=\"80\" data-uri=\"b5a27a70bd9269a9e25ce07745ba3e7e\" rel=\"noopener\">announced<\/a> in May 2020 that he planned to sell &#8220;almost all&#8221; his physical belongings, including his multimillion-dollar property portfolio. He <a target=\"_blank\" href=\"https:\/\/www.businessinsider.com\/elon-musk-sold-last-remaining-home-san-francisco-california-2021-12?utm_medium=ingest&amp;utm_source=markets\" data-analytics-module=\"body_link\" rel=\"noopener\">sold<\/a>\u00a0his\u00a0<a target=\"_blank\" href=\"https:\/\/www.businessinsider.com\/elon-musk-sells-home-bay-area-san-francisco-2021-11?r=US&amp;IR=T&amp;utm_medium=ingest&amp;utm_source=markets\" data-analytics-module=\"body_link\" data-analytics-post-depth=\"40\" data-uri=\"4b0557b77f4d4ad1d6cd2d0cbbbdac94\" rel=\"noopener\">last remaining home<\/a> in December 2021.<\/p>\n<p>The billionaire entrepreneur is an advocate of cryptocurrencies, albeit with caveats. He&#8217;s regularly <a target=\"_blank\" href=\"https:\/\/markets.businessinsider.com\/news\/currencies\/elon-musk-dogecoin-fan-bitcoin-gives-power-rich-jack-dorsey-2021-12?utm_medium=ingest&amp;utm_source=markets\" data-analytics-module=\"body_link\" rel=\"noopener\">voiced support for dogecoin<\/a> and discussed the merits of crypto with leading figures from the tech industry.\u00a0<\/p>\n<p>Musk&#8217;s Tesla said it <a target=\"_blank\" href=\"https:\/\/markets.businessinsider.com\/currencies\/news\/tesla-buys-bitcoin-elon-musk-stock-accept-form-of-payment-2021-2-1030055107?utm_medium=ingest&amp;utm_source=markets\" data-analytics-module=\"body_link\" rel=\"noopener\">bought about $1.5 billion worth of bitcoin<\/a> in early 2021, to be used a hedge against inflation.<\/p>\n<p>Tesla&#8217;s share price has fallen about 35% this year, sending Musk&#8217;s fortune down by about a quarter \u2013 but he&#8217;s still the richest person in the world, with a net worth of around $206 billion, according to the <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/billionaires\/\" data-analytics-module=\"body_link\" rel=\"noopener\">Bloomberg Billionaires Index.<\/a><\/p>\n<p>Commodity prices were already on the upswing on the back of <a target=\"_blank\" href=\"https:\/\/www.businessinsider.com\/too-much-choice-makes-the-supply-chain-crisis-even-worse-2022-1?utm_medium=ingest&amp;utm_source=markets\" data-analytics-module=\"body_link\" rel=\"noopener\">supply chain disruptions<\/a> as the global economy recovers from the pandemic. Russia&#8217;s invasion of Ukraine last month added to supply-side strains to the <a target=\"_blank\" href=\"https:\/\/markets.businessinsider.com\/news\/commodities\/too-big-to-sanction-10-facts-russia-oil-commodity-exports-2022-3?utm_medium=ingest&amp;utm_source=markets\" data-analytics-module=\"body_link\" rel=\"noopener\">energy<\/a>, <a target=\"_blank\" href=\"https:\/\/www.businessinsider.com\/ukraine-war-could-make-cars-more-expensive-2022-3?utm_medium=ingest&amp;utm_source=markets\" data-analytics-module=\"body_link\" rel=\"noopener\">metals,<\/a> and <a target=\"_blank\" href=\"https:\/\/www.businessinsider.com\/what-russias-invasion-ukraine-means-global-food-supplies-2022-3?utm_medium=ingest&amp;utm_source=markets\" data-analytics-module=\"body_link\" rel=\"noopener\">grains<\/a> markets, because both countries are leading suppliers.<\/p>\n<\/p><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/markets.businessinsider.com\/news\/currencies\/elon-musk-own-physical-things-wont-sell-bitcoin-ether-doge-2022-3\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Elon Musk on Monday advised his Twitter followers to own &#8220;physical things&#8221; when inflation is high. He seemed to make an exception for bitcoin, ether, and dogecoin, saying he won&#8217;t sell his holdings. Musk, the world&#8217;s richest person, said in 2020 he wants to sell &#8220;almost all&#8221; his physical belongings. Loading Something is loading. Elon [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":10635,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[46],"tags":[50,291,589,590,6233,2047,130],"class_list":["post-10634","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-bitcoin","tag-doge","tag-elon","tag-musk","tag-physical","tag-sell","tag-wont"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/03\/622ed60fcb36c100196c10c6.jpeg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/10634","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10634"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/10634\/revisions"}],"predecessor-version":[{"id":10636,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/10634\/revisions\/10636"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/10635"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10634"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10634"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10634"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}