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With real interest rates trending negative, Teslaâs CEO Elon Musk believes âonly a foolâ would ignore alternative investment opportunities.
On Feb. 19, Musk responded to comments made by Binance CEO Changepeng Zhao to Bloomberg in which CZ expressed his surprise at the Tesla executiveâs âgung-hoâ pronouncements regarding Dogecoin.
Tesla co-founder and hypothetical Dogecoin (DOGE) CEO Elon Musk has asserted that âonly a foolâ would not seek out alternative investments to fiat currency given current interest rates on Twitter today.
During the interview, CZ implied that Teslaâs recent decision to invest $1.5 billion or 7.7% of its treasury into Bitcoin (BTC) likely evidenced Muskâs deep support for Bitcoin.
On Twitter, Musk said, âTeslaâs action is not directly reflective of my opinion. Having some Bitcoin, which is simply a less dumb form of liquidity than cash, is adventurous enough for an S&P500 company.â
Responding to the insinuation from Musk that he personally holds DOGE in higher esteem than BTC, Blockstream CSO Samson Mow said, âYouâre just sad you didnât buy sooner.â
However, Musk also asserted it would be foolish not to seek out alternative investments while âfiat currency has negative real interestâ:
âWhen fiat currency has negative real interest, only a fool wouldnât look elsewhere. Bitcoin is almost as bs as fiat money. The key word is âalmost.ââ
Elon Muskâs Twitter account has been deemed the catalyst for Dogecoinâs dramatic recovery from the r/Wallstreetbets-led pump and dump that targeted the meme-coin at the end of January, with the billionaire describing DOGE as âthe peopleâs crypto.â
However, Musk tweeted on Feb. 15 to warn of the heavy concentration of Dogecoinâs supply within the hands of a small number of whales, offering to pay the top DOGE holders to void their accounts.
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