2 years ago
Tesla and Spacex CEO Elon Musk has revealed that his 2 companies are seeing important ostentation unit successful earthy materials and logistics. He advised radical to ain carnal things erstwhile ostentation is precocious but stressed helium volition not merchantability his cryptocurrencies: bitcoin, ether, and dogecoin.
Elon Musk Discusses High Inflation
The CEO of Tesla and Spacex, Elon Musk, discussed precocious ostentation successful a bid of tweets that started Sunday evening. He began by asking his 7.7 cardinal Twitter followers, “What are your thoughts astir probable ostentation complaint implicit adjacent fewer years?” Musk besides revealed that his companies, Tesla and Spacex, are seeing important ostentation unit successful earthy materials and logistics.
The Spacex brag noted that different companies are seeing a akin trend. He referenced an nonfiction published by the Financial Times earlier this period stating that planetary commodity prices are connected way for the biggest play rally successful much than 50 years arsenic Europe’s earthy state prices person deed a caller record.
Dominic O’Kane, an expert astatine planetary concern slope JPMorgan, was quoted by the work arsenic saying: “Events successful Russia and Ukraine are unleashing exceptional commodity terms moves, which could person structural implications connected semipermanent supply . . . but we besides judge determination are credible threats of request demolition arsenic commodity prices melt-up.”
Many radical replied to Musk’s tweets astir inflation. Orcam Group laminitis Cullen Roche detailed: “The probability of 10%+ ostentation is highly precocious for overmuch of 2022. Interestingly, this besides increases the hazard of deflation successful 2023 & 2024 arsenic it increases the hazard of the Fed making a argumentation mistake and/or prices correcting by crashing.”
Last week, Charlie Bilello, laminitis of Compound Capital Advisors, noted: “The U.S. ostentation complaint rises to 7.9%, its highest level since 1982. Core ostentation (excludes food/energy) rises to 6.4%, besides the highest we’ve seen since 1982.”
Elon Musk’s Inflation Advice and Cryptocurrencies
Among those who replied to Musk was the pro-bitcoin CEO of Microstrategy, Michael Saylor. He tweeted:
USD user ostentation volition proceed adjacent each clip highs, and plus ostentation volition tally astatine treble the complaint of user inflation. Weaker currencies volition collapse, and the formation of superior from cash, debt, & worth stocks to scarce spot similar bitcoin volition intensify.
Musk was not amazed by Saylor’s conclusion. “It is not wholly unpredictable that you would scope that conclusion,” helium replied. The Spacex brag proceeded to counsel that arsenic a wide principle, “it is mostly amended to ain carnal things similar a location oregon banal successful companies you deliberation marque bully products than dollars erstwhile ostentation is high.”
The Tesla technoking further confirmed that helium inactive owns 3 cryptocurrencies and volition not merchantability them. “I inactive ain & won’t merchantability my bitcoin, ethereum oregon doge,” Musk wrote.
He archetypal revealed successful June past twelvemonth that helium personally owns BTC, ETH, and DOGE. He besides said that Spacex lone owns BTC. As for his electrical car company, Tesla told the U.S. Securities and Exchange Commission (SEC) successful a filing that the just marketplace worth of its bitcoin holdings arsenic of Dec. 31 was $1.99 billion.
On Monday, Musk besides tweeted challenging Russian President Vladamir Putin to “single combat.” He said the “stakes are Ukraine.” He followed up with different tweet little than an hr later, asking the Kremlin: “Do you hold to this fight?”
The Spacex CEO has sent a mates of shipments of Starlink instrumentality to Ukraine. “Starlink keeps our cities connected and exigency services redeeming lives,” said Mykhailo Fedorov, the Ukrainian vice premier minister.
Tags successful this story
What bash you deliberation astir Elon Musk’s comments? Let america cognize successful the comments conception below.
Kevin Helms
A pupil of Austrian Economics, Kevin recovered Bitcoin successful 2011 and has been an evangelist ever since. His interests prevarication successful Bitcoin security, open-source systems, web effects and the intersection betwixt economics and cryptography.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This nonfiction is for informational purposes only. It is not a nonstop connection oregon solicitation of an connection to bargain oregon sell, oregon a proposal oregon endorsement of immoderate products, services, oregon companies. Bitcoin.com does not supply investment, tax, legal, oregon accounting advice. Neither the institution nor the writer is responsible, straight oregon indirectly, for immoderate harm oregon nonaccomplishment caused oregon alleged to beryllium caused by oregon successful transportation with the usage of oregon reliance connected immoderate content, goods oregon services mentioned successful this article.
English (US) 