Elon Musk is one of the most popular figures in the crypto community. He has been a strong advocate for Bitcoin and other cryptocurrencies. So, what cryptocurrencies does Elon Musk own?
Checkout this video:
Bitcoin
Elon Musk owns $1.5 billion in Bitcoin, according to a February 2021 disclosure to the U.S. Securities and Exchange Commission. The filing revealed that Tesla had purchased the Bitcoin for $1.5 billion in January and that the electric car company plans to accept the cryptocurrency as payment for its products in the future.
This is not the first time Musk has shown an interest in cryptocurrency; he has also been a vocal supporter of Dogecoin, a meme-based altcoin that was created as a joke but has since seen explosive growth due largely to Musk’s Twitter posts about it. At one point, Musk’s tweets about Dogecoin caused its value to increase by more than 30%.
Ethereum
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference.
In Ethereum, all transactions are public and transparent, making it impossible to hide fraudulent activity. This makes Ethereum an ideal platform for building decentralized applications.
Elon Musk is the founder, CEO and CTO of SpaceX, co-founder of Tesla Motors, and chairman of SolarCity. He is also the founder of The Boring Company, a tunnel construction company.
Musk is a strong advocate for the development of renewable energy and has stated that he believes solar power will eventually become the primary source of energy on Earth.
In March 2014, Musk announced that Tesla would accept Bitcoin as payment for their vehicles. This made Tesla the first major automaker to accept Bitcoin as payment.
In February 2018, Musk announced that SpaceX would accept Bitcoin as payment for their space launches. This made SpaceX the first private company to accept Bitcoin as payment.
In May 2018, Musk announced that his companies, Tesla and SpaceX, would begin accepting Bitcoin as payment for their products and services.
Litecoin
Elon Musk, the billionaire founder of Tesla and SpaceX, is one of the most influential figures in the cryptocurrency world. He has been a vocal supporter of Bitcoin and Ethereum, and has even hinted that he owns some Litecoin.
Litecoin is a digital currency that enables instant, near-zero cost payments to anyone in the world. It is built on the foundation of Bitcoin and has many of the same features. However, Litecoin is faster and cheaper to use than Bitcoin.
Musk has not publicly disclosed how much Litecoin he owns, but considering his influence in the space, it is likely that he has a significant amount.
Dogecoin
Elon Musk owns a fair amount of Dogecoin, which he has mentioned on Twitter multiple times. He first bought the cryptocurrency in early 2021 when it was trading at around $0.05 per coin. At the time of writing, Dogecoin is trading at $0.45 per coin, meaning Musk’s Dogecoin stash is now worth over $100 million.
In addition to Dogecoin, Musk also owns a significant amount of Bitcoin. He bought his first Bitcoins in early 2021 when the price was around $32,000 per coin. At the time of writing, Bitcoin is trading at over $60,000 per coin, meaning Musk’s Bitcoin stash is now worth well over $1 billion.
Bitcoin Cash
Bitcoin Cash is a cryptocurrency that was created in August 2017, as a result of a hard fork of the Bitcoin blockchain. It is currently the fourth largest cryptocurrency by market capitalization.
Elon Musk has not publicly disclosed how much Bitcoin Cash he owns, but it is estimated that he has acquired around $40 million worth of the currency. His stake in Bitcoin Cash is believed to be held through his investment firm, SpaceX.
Musk has been a supporter of Bitcoin Cash since its inception, and has even hinted that it could become the primary cryptocurrency used by SpaceX in the future. However, he has also cautioned that cryptocurrencies are “risky” and should only be invested in by those who are prepared to lose all their money.
