Recession Risk Begins to Grow as Inflation Rises: Elon Musk Stops Bitcoin, Ethereum, Dogecoin Sales!
Author:Elon Musk (founder of Tesla and SpaceX) made statements on Twitter by referring to the situations related to the rise of inflation:
- – Ways to Protect against inflation
- -Details about Bitcoin, Ethereum, and dogecoin commitments
Elon Musk, who made a statement on Twitter recently, announced information about inflation that may occur in the next few years. Sharing his thoughts on the inflation rate, in particular, Musk explained that this situation will also affect his own companies as raw material prices continue to increase. Especially the price increases caused by the increase in inflation pressure have already started to affect Tesla and SpaceX.
Effects Continue on Bitcoin with Inflation Increase
With the continued increase in inflation, Michael Saylor, the CEO of Micro Strategy, like Elon Musk, has also begun to make some statements. Saylor stated that USD inflation is reaching an all-time high in its estimations. He also stated that asset inflation will double compared to consumer inflation. Saylor, who stated that weak currencies will collapse with the continuation of these situations, also stated that the capital will shift from cash, debt, and value stocks to other currencies. After these statements, Elon Musk also explained that it would be more logical to invest his thoughts on the subject in the objects of companies that make good products, instead of the currencies that come to the fore when inflation is high.
- -To prevent rising inflation, it is estimated that the Federal Reserve will take action to prevent this situation by making a proportional increase.
- – In the statements made by the authorities, it was revealed that inflation was described as temporary. Officials, who stated that this situation would improve if the problems in the supply chain were resolved, some industry experts began to think that the risk of recession increased after the war started.
The measure of all these situations in crypto exchanges continues indefinitely. It also highlights a need for people who are crypto enthusiasts, such as product leaders at the Dogecoin Foundation. In particular, the need for a currency that is not controlled by the government or any other central organization has emerged. The institution stating its needs on this subject states that studies on the subject should be carried out. For this reason, it leaves people wondering in which direction the developments will progress with inflation in the crypto money world.