At the latest shareholder meeting on Saturday, August 6, Tesla CEO Elon Musk shared some positive points about the global economy.

Musk predicted that the worst of inflation was behind us and that inflationary pressure was declining.

Musk indicated that corporate goods costs will trend downward over the next six months.

he added:

The current trend is to the downside, indicating that we are past the peak of inflation.

I think inflation will drop rapidly at some point in the future.

We have somewhat of an insight into where prices are heading over time.

Read:The return of the description of Bitcoin as a safe haven, after its performance was linked to gold and silver

The interesting thing we’re seeing right now is that most of our goods, most of the things that go into a Tesla – not all, but more than half, are going down in price six months from now.

Is it good news for cryptocurrency?

With inflation soaring over 9% to a four-decade high in the US, money has been flowing very quickly from the stock and cryptocurrency markets to risk-free assets like bonds and Treasuries.

This is because the Federal Reserve was raising interest rates in order to control inflation, which could negatively affect the pace of economic growth.

As inflationary pressure subsides, Elon Musk predicts, crypto outflows may decline.

Read:The story of a man who chose to take his entire monthly salary in Bitcoin

This may also mean that more investors are likely to hold their investments in cryptocurrencies and even make new entries in the long term.

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