Bitcoin, Ether see brief spike after Elon Musk says he isn’t selling

economictimes.indiatimes.com:

Ether and Dogecoin got a quick boost on Monday after Elon Musk tweeted that he owns the digital tokens and isn’t planning to sell. Bitcoin, which has fallen as much as 2.9% before Musk’s tweet, briefly erased losses before retreating again. Ether was up as much as 2.3% before giving up some gains. Dogecoin’s 3.8% gain over the past hour was the biggest among cryptocurrencies tracked by CoinGecko. 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.

Did you Know?

Billed as India's first blockchain wedding, in the presence of a digital priest,

I still own & won’t sell my Bitcoin, Ethereum or Doge fwiw. Musk, the world’s richest person and the chief executive officer of Tesla Inc., is no stranger to social-media posts on cryptocurrencies. Last May he said he hasn’t “and won’t” sell any Dogecoin, a token created in 2013 as a joke and for which he’d become a proponent. In October, Musk said he owns Bitcoin, Ether and Dogecoin. This time around, he had posted a question on Twitter about the likely rate of inflation over the next few years. Michael Saylor, the chief executive officer of MicroStrategy Inc. and a prominent Bitcoin bull, replied: “Weaker currencies will collapse, and the flight of capital from cash, debt, & value stocks to scarce property like #bitcoin will intensify.” “It is not entirely unpredictable that you would reach that conclusion,” Musk retorted. MicroStrategy took a $147 million impairment charge for the fourth quarter as Bitcoin’s price drop forced the company to write down its holding.