Musk-Saylor inflation debate boils down to scarcity

Like increase inflationary Threatening to further erode the purchasing power of the global fiat ecosystem, finding the perfect hedge against a falling economy has become an everyday necessity – especially for the general public around the world. .

Join this online discussion, Tesla CEO Elon Musk request publicly about the likely inflation rate in the next few years to gauge the perception of global investors. Sharing his thoughts on the matter, American billionaire and MicroStrategy CEO Michael J. Saylor said that with rising inflation, he expects capital flows to shift from traditional fiat to anhydrous assets. as rare as Bitcoin (BTC).

Over the past six months, major economies include UK, Turkey, Russia and USA has seen unprecedented inflationary pressures due to global uncertainties and disruptions fueled by cross-border conflicts and the COVID-19 pandemic.

When praising Saylor’s general suggestion of investing in scarce assets to combat rising US dollar inflation, Musk replied: “It’s not entirely predictable that you’ll come to that conclusion. “

While the public joined in on the discussion, dismissing Saylor’s suggestion of using BTC as a hedge against inflation driven by personal investments, Musk acknowledged that assets are mostly scarce – such as physical assets and corporate stocks – helping investors maintain their purchasing power against high inflation.

As part of his advice, Musk shared his intention to continue hoarding BTC, Ethereum (ETH), Dogecoin (DOGE) amid rising inflation “for what it’s worth.”

Back in December 2021, Musk confirmed that EV giant Tesla would start accepting DOGE for goods, as a result, the price of the meme token increased by 25%.

1-hour DOGE/USD (Bittrex) candlestick chart from December 2021. Source: TradingView

However, Musk’s latest tweet in favor of the cryptocurrency has yet to have any positive impact on the bearish price.

Related: Dogecoin Foundation registers name and logo as registered trademark in European Union

In an effort to improve the legitimacy of the thriving ecosystem, the Dogecoin Foundation has registered “Doge”, “Dogecoin” and its related logos as trademarks in the European Union.

As Cointelegraph reported, Dogecoin executive board member Jens Wiechers stated that the move was made to eliminate attempts to register names and use trademarks by unrelated people to register names and Using trademarks as a tool of blackmail.