Recently, Michael Saylor, co-founder of MicroStrategy and bitcoin enthusiast, Steve Wozniak, co-founder of Apple, and Elon Musk, founder of too many companies to name, expressed their bullishness on cryptocurrency.
As the consumer price index rose to 7.9% year over year for February, up 90 points from January’s 7%. Michael Saylor and Elon Musk took to Twitter to talk inflation.
In the Monday Twitter thread, Musk stated that as a general principle it is “better to own physical things like a company or stock in companies you think make good products than dollars when inflation is high.” Musk then went on to make it clear that “I still own & won’t sell my Bitcoin, Ethereum, or Doge fwiw [For What It’s Worth].”
Previously in the thread Michael Saylor expressed his bold thoughts, stating that “USD consumer inflation will continue near all time highs, and asset inflation will run at double the rate of consumer inflation. Weaker currencies will collapse, and the flight of capital from cash, debt, & value stocks to scarce property like #bitcoin will intensify.”
To which Musk responded, “It is not entirely unpredictable that you would reach that conclusion,”
Among those two is another well-known billionaire, Steve Wozniak, who has also recently stated his bullish thoughts on Bitcoin. On “Steve-O’s Wild Ride,” Podcast, Wozniak dove into his experience with Bitcoin, explaining how he originally bought ‘a bunch’ just to play around with it, stating he wanted it “to have enough to play with, experiment with, but not make money on.” continuing on to Add “And then bitcoin went way up. Well, I got scared and I sold all my Bitcoin except one Bitcoin.”
He then Went on to say “I just don’t know where you get that feeling. I can’t put any mathematics to it. I just really feel it from all of the interest. The interest in crypto is so high.”