Elon Musk sold his houses during the pandemic, but now inflation

Monday, March 14, 2022
author picture Liam Lambert
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Video/image source : youtube, iinsider
Original content created by news.limited staff

On Twitter‚ Elon Musk recently asked his 77 million followers to guess the future of inflation. While the US economy has seen a decline in value in recent years‚ the flamboyant Tesla founder has seen the opposite. In March‚ he said‚ I sold my houses during the pandemic‚ and now we're seeing a rise in prices again. In his Twitter feed‚ Musk rambles on about everything from his latest Netflix acquisition to war in Ukraine. Inflation is a broad increase in prices and a fall in money's value. It's caused by too much demand for a finite supply. Ultimately‚ this leads to higher prices for consumers. But while many of us would rather own physical objects than hold digital assets‚ Elon Musk has given Twitter users advice to own physical things. He sold his homes and Tesla shares in December 2018‚ but has yet to sell any bitcoin or ether. In February‚ US inflation hit 7.9% year-on-year‚ the highest since 1982. In 2020‚ Elon will be selling all of his physical possessions‚ including his homes and spaceships. The CEO of Tesla‚ SpaceX‚ and PayPal has advised his Twitter followers to own physical goods when inflation gets high.

elon musk sold his houses during the pandemic but now inflation
Image source : iinsider

However‚ he did not sell his Bitcoin‚ ether‚ or dogecoin. The reason why Elon Musk is selling his physical goods is because he's worried about the impact of the rising prices on his business. When he sells his houses‚ he will keep the money he's made.