1 August 2026
Elon Musk Has No Plans To Sell BTC, ETH, and DOGE
The CEO of Tesla, Elon Musk, tweeted today that he is concerned over the rising rate of inflation as a result of the escalating Russian-Ukraine crisis. Although Musk will not sell his Bitcoin, Ethereum, or Doge despite the rising inflation.
Musk again shared his bullish stance on Cryptocurrency by considering the potential in the future market of Crypto and Blockchain. Also, just after the tweet Cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE) quickly surged with a slight jump in the last one hour.
In his tweet, Musk revealed that he holds Bitcoin, Ethereum, or Doge and doesn’t have plans to sell it. He also shared advice that it is better to own physical things like a home or stock in good companies that make good products, than dollars when inflation is high.
He said, “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.”
Musk had posted a question in a tweet about the likely rate of inflation over the next few years. Michael Saylor replied to his tweet and said, “Weaker currencies will collapse, and the flight of capital from cash, debt, & value stocks to scarce property like #bitcoin will intensify.”
Musk further replied, “It is not entirely unpredictable that you would reach that conclusion.”
Currently, Bitcoin is trading at $38,544, Ethereum (ETH) at $2,570, and DOGE at $0.11. However, the market cap of the Crypto market continues to be in range-bound near $1.72 trillion as prices continue to move sideways.
Once again, the Crypto market has come under pressure due to the European Union reportedly working to pass a bill banning all Proof-of-Work (PoW) cryptocurrencies, citing environmental concerns. The Crypto community is eagerly waiting for voting on the controversial Markets in Crypto Assets (MiCA) framework as it includes a clause to ban all energy-intensive digital assets.
Disclaimer: The author’s thoughts and comments are solely for educational reasons and informative purposes only. They do not represent financial, investment, or other advice.
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