Bitcoin (BTC) is in short supply at Tesla, even as its CEO predicts that United States inflation has already peaked.
Speaking at Tesla’s 2022 Annual Meeting of Stockholders on Aug. 5, Elon Musk predicted that an upcoming United States recession would only be “mild to moderate.”
Musk on costs: "The trend is down"
After recently selling almost all of its $1.5 billion BTC holdings, Tesla is seeing the emergence of exactly the kind of economic landscape in which risk assets thrive.
During a Q&A session at the Annual Meeting, Musk revealed that six-month commodities pricing for Tesla parts is already getting cheaper, not more expensive.
Commodities, he said, are trending down, providing a hint that inflation has already hit its highest levels.
“We sort of have some insight into where prices are headed over time and the interesting thing that we’re seeing now is that most of our commodities, most of the things that go into a Tesla — not all, more than half — the prices are trending...
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