Elon Musk advises owning physical assets during high inflation, but he is not selling his cryptocurrency.

Elon Musk, CEO of Tesla, advised owning physical assets instead of cash amidst the current inflation surge.

The Tesla founder advised in a Musk tweet at midnight ET on Monday that it is generally more beneficial to own physical assets like a home or stocks in companies producing good products, rather than holding dollars during high inflation.

Even so, Musk said he is holding onto cryptocurrencies.

He stated that he still owns and has no intention of selling his Bitcoin, Ethereum, or Doge.

The consumer price index for February increased by 7.9% compared to the same month last year, reaching its highest point since January 1982.

During inflationary periods, investors may shift towards physical assets like commodities because their prices increase due to inflation.

Bitcoin's price remained nearly flat at $38,940.47 by around 7:30 a.m. ET, despite Musk's brief comments on crypto causing a slight increase in its value.

Nearly 19% of bitcoin's price decline occurred in 2022, according to CoinDesk data.

Earlier in a Twitter thread, MicroStrategy CEO Michael Saylor highlighted crypto as an investment opportunity against inflation.

The flight of capital from cash, debt, and value stocks to scarce property like Bitcoin will intensify as weaker currencies collapse, according to Saylor.

Both CEOs are well-known figures in the crypto industry, having added bitcoin to their companies' balance sheets. Musk's past comments have frequently influenced the price of digital coins.