(Twitter) Dogecoin rose to a high of $0.122, on Monday, from a low of $0.111 before retreating after Elon Musk said he would not sell his holdings which also include Bitcoin and Ether.
The comment by Musk comes even as inflation runs hot, with the Tesla CEO posting a question on the likely rate of inflation in the next few years.
MicroStrategy’s CEO Michael Saylor commented that as inflation hits record highs, weaker currencies will collapse while capital will flow to scarce assets such as Bitcoin.
Musk seemed to agree with Saylor, saying that it is not entirely unpredictable for the MicroStrategy CEO to reach a conclusion.
Still, Musk recommended holdings of physical items such as a home and stocks in entities that make good products, compared to cash when the inflation is running high. DOGEUSD is up +3.58%, ETHUSD is up +2.89%, BTCUSD is up +3.36%
