Elon Musk has no plans to sell his Bitcoin.
The Tesla and SpaceX boss has offered up his advice amid rising inflation prices and suggested owning property and investing in popular products is the way forward, while also declaring that he will not be parting with his Bitcoin, Ethereum and Dogecoin, all forms of crypto-currency.
Speaking to fellow businessman Michael Saylor in a Twitter exchange, Musk stated: "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 and won't sell my bitcoin, ethereum or doge [for what it's worth]."
Musk had admitted: "Tesla and SpaceX are seeing significant recent inflation pressure in raw materials and logistics."
Saylor responded with his prediction: "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, and value stocks to scarce property like #bitcoin will intensify."
To which, Musk replied: "It is not entirely unpredictable that you would reach that conclusion."
By contrast, Bill Gates previously claimed that crypto-currencies are killing people in a "fairly direct way".
The Microsoft founder - who has turned his attention towards philanthropic work over recent years - made the statement in reference to the way digital currencies, like Bitcoin, are being used to buy potentially harmful drugs.
During an 'Ask Me Anything' session on Reddit, Gates was asked about the impact of crypto-currencies and said: "The main feature of crypto-currencies is their anonymity.
"I don't think this is a good thing. The government's ability to find money laundering and tax evasion and terrorist funding is a good thing."
