(LibertySons.org) – In times of financial upheaval, the wealthiest people have some of the best insight into avoiding hardships. The richest man in the world, Elon Musk, offers some words of advice to the average person, saying it is better to put your money into assets than to keep around cash when inflation is through the roof.
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.
— Elon Musk (@elonmusk) March 14, 2022
The Tesla CEO explained buying a house or investing in stocks is far better than having cash on hand, but he admitted he’s holding onto his cryptocurrency investments. His comments about crypto helped those markets with an immediate and brief spike. Musk has a history of influencing the value of cryptocurrency with his words and personal decisions.
Musk’s tweet was part of a conversation he started about what might happen with inflation over the next few years. Michael Saylor, CEO of MicroStrategy, replied to the question to say he felt it could continue to rise, leading to the collapse of weaker currencies. He went on to say he believed crypto will benefit from the shift. Both men are influential in the cryptocurrency market, with each having some on the balance sheets at their respective companies.
Is buying physical assets a good bet for the average person in these economic times, or is it only a risk for the rich? And why is Musk investing so much in cryptocurrency?
~Here’s to Our Liberty!
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