Elon Musk Sold His Houses, but He Won’t Be Selling His Bitcoin and Ethereum

Own physical things instead of cash. That’s the high-level advice Elon Musk has for those seeking advice on where to store their wealth when inflation is running rampant.

The Tesla chief was tweeting in response to MicroStrategy CEO Michael Saylor’s prediction that inflation would persist at 40-year highs, and that investors’ flight from “cash, debt, & value stocks to scarce property like #bitcoin will intensify.”

Musk seemed to agree, saying that “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.”

He added: “I still own & won’t sell my Bitcoin, Ethereum or Doge.”

It’s an interesting comment considering that Musk, who welcomed his second child this month with musician girlfriend Grimes, has sold all seven of his California residences for a
reported $128 million
and currently rents here in Texas.

And no, Bitcoin, Ethereum, Dogecoin and other digital assets are not “physical things.” But to Michael Saylor’s point, they are private property (unlike fiat currency), and they are scarce (like gold). Bitcoin supply is capped at 21 million, while no new Ether tokens are being produced.