As rising inflation threatens to eat up further the purchasing power of the global fiat ecosystem, finding the perfect hedge against a falling economy has become the need of the hour — especially for the general public across the world.
Joining this discussion online, Tesla CEO Elon Musk געבעטן publicly about the probable inflation rate over the next few years to gauge the notion of global investors. Sharing his thoughts on the matter, American billionaire and MicroStrategy CEO Michael J. Saylor opined that with rising inflation, he expects the capital cash flow will move away from traditional fiat into scarce assets such as Bitcoin (BTC).
וסד קאַנסומער ינפלאַציע וועט פאָרזעצן כּמעט אַלע צייט כייז, און אַסעט ינפלאַציע וועט לויפן מיט טאָפּל די קורס פון קאַנסומער ינפלאַציע. שוואַך קעראַנסיז וועט ייַנבראָך, און די פלי פון קאַפּיטאַל פון געלט, כויוו און ווערט סטאַקס צו קנאַפּ פאַרמאָג ווי #bitcoin וועט פאַרשטאַרקן.
- Michael Saylor⚡️ (@saylor) מאַרץ קסנומקס, קסנומקס
In the last six months, major economies including the United Kingdom, Turkey, Russia and the United States have witnessed unprecedented inflationary pressure owing to global uncertainties and disruptions fueled by cross-border conflicts and the COVID-19 pandemic.
Complimenting Saylor’s general proposition for investing in scarce assets to counter the rising U.S. dollar inflation, Musk replied, “It is not entirely unpredictable that you would reach that conclusion.”
While the general public joined in on the discussion, dismissing Saylor’s suggestion of using BTC as a hedge against inflation due to personal investments, Musk acknowledged that assets that are predominantly scarce — such as physical property and company stocks — help investors in maintaining their purchasing power against high inflations.
אלס אלגעמיינער פרינציפ, פאר די וואס זוכן עצות פון דעם אשכול, איז בכלל בעסער צו פארמאגן פיזישע זאכן ווי א היים אדער סטאק אין פירמעס וואס איר מיינט מאכן גוטע פראדוקטן, ווי דאלאר ווען די אינפלאציע איז הויך.
איך נאָך פאַרמאָגן און וועט נישט פאַרקויפן מיין ביטקאָין, עטהערעום אָדער דאָגע.
- Elon מוסק (@עלאָנמוסק) מאַרץ קסנומקס, קסנומקס
As a part of the advice, Musk shared his intent to continue hodling BTC, Ethereum (ETH), Dogecoin (DOGE) amid rising inflation “for what it’s worth.”
טעסלאַ וועט מאַכן עטלעכע סחורה בייאַבאַל מיט Doge און זען ווי עס גייט
- Elon מוסק (@עלאָנמוסק) דעצעמבער קסנומקס, קסנומקס
Back in December 2021, Musk confirmed that EV giant Tesla will start accepting DOGE for merchandise, as a result, spiking the meme token’s price by 25%.
However, Musk’s latest tweet in support of cryptocurrencies is yet to have any positive impact on the dwindling prices.
פֿאַרבונדענע: Dogecoin Foundation רעדזשיסטערז נאָמען און לאָגאָס ווי טריידמאַרקט אין די אי.יו
In an effort to improve the legitimacy of its thriving ecosystem, the Dogecoin Foundation registered “Doge,” “Dogecoin” and its associated logos as trademarks in the European Union.
Given an increasing number of bad faith attempts to register trademarks for “Doge”, “Dogecoin” and even the logos created for Dogecoin by Christine Ricks by people and organisations, we had no option but to register them to protect all good shibes in the @דאָגעקאָין קהילה. 2/2
- Dogecoin Foundation (@DogecoinFdn) מאַרץ קסנומקס, קסנומקס
As Cointelegraph reported, Dogecoin executive board member Jens Wiechers stated that the move was made in an attempt to weed out the attempts of unaffiliated people to register the names and use the trademarks as tools of extortion.
Source: https://cointelegraph.com/news/crypto-vs-physical-musk-saylor-inflation-debate-boils-down-to-scarcity