Elon Musk posted in a thread on Twitter last year, after inflation hit a 40-year high for the first time, advising followers to own “physical things” when inflation is high.
In the tweet, Musk said “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 & won’t sell my Bitcoin, Ethereum or Doge fwiw.”
The biggest takeaway for some followers seems to have been that Musk is still holding his Dogecoin because the cryptocurrency’s price saw a temporary spike shortly after the tweet.
However, the more important point to Musk’s message is that physical assets are generally the safest investment during times of high inflation. This message coming from the “Dogefather” himself should speak volumes.
While inflation is finally starting to cool off in the U.S., it still remains fairly high with the January Consumer Price Index (CPI) data coming in at 6.4% year-over-year. This means Musk’s advice to own physical things is still just as relevant today as it was a year ago.
Here are three that have historically performed well during periods of high inflation.
more at yahoo.com