one of the richest people in the world Elon Musk Recently, it has started to show its effect in the crypto money sector. Continuing his adventure, which started with Dogecoin, by supporting Bitcoin, Musk has now expressed his concerns about an issue where nominal money is insufficient.
Musk Warns Against Inflation
Musk expressed his views on an issue brought up by Twitter CEO Jack Dorsey and highlighted by ARK Invest CEO Cathie Wood.
Jack Dorsey emphasized that hyperinflation is at the door and underlined that this is about to change everything.
Cathie Wood, on the other hand, emphasized that the FED made monetary expansion in the 2008-09 period and that he thinks that inflation will go away.
Instead, the rate of money, that is, the measure of how many times the average currency is used to buy goods and services in a given period of time, has started to decrease, implying that something similar may happen again.
Adding to these, Elon Musk stated that although he does not know the long term, there will definitely be a strong inflation pressure in the short term.
Although Musk does not directly mention Bitcoin here, it is known by the whole world that the leading cryptocurrency is an inflation-resistant asset. This is actually seen as the main reason for the recent increase in Bitcoin price, and the more inflation increases, the faster the flight to BTC can accelerate. The steps to be taken by the FED will be decisive for BTC in this regard.