In this article, you will learn what cryptos does Elon Musk own. Billionaire Elon Musk, CEO of SpaceX and Tesla, often tweets about different cryptocurrencies, and in doing so, has seemingly impacted their prices.
A few times throughout 2021. the price of an altcoin called shiba inu appeared to jump after Musk repeatedly posted images of his shiba inu puppy on Twitter.
What Cryptos Does Elon Musk Own?
Elon Musk is quite vocal about cryptocurrencies during events and especially on Twitter. Since he has invested heavily in crypto and is one of the wealthiest people alive, his views seem to drive the crypto market.
When he started tweeting his Shiba Inu puppy's pictures, investors thought he was hinting at owning the crypto Shiba Inu. As a result, the price of Shiba Inu increased following his tweets.
However, he later revealed that he does not own Shiba Inu and has only invested in three cryptocurrencies.
At The B Word conference in June 2021. Elon Musk said that he supports Bitcoin. He also revealed that Tesla might start accepting payments in Bitcoin again. The SpaceX and Tesla CEO further said that Bitcoin could be used for economic empowerment.
As revealed in his tweets and with confirmation at the conference, Elon Musk revealed he owns three cryptocurrencies: Bitcoin, Ethereum and Dogecoin.
Does Musk Believe in Crypto's Future?
At the conference, he further said that he has more Bitcoin than Dogecoin and Ethereum. The reason behind this is his firm belief in the currency. He doesn't plan to sell his Bitcoin holdings since he does not believe in selling the crypto when the price is high.
He emphasized that he wants to see Bitcoin succeed. It's evident from his views about Bitcoin that Elon Musk believes in the cryptocurrency's long-term potential.
Although Musk's interest in Ethereum and Bitcoin is valid due to the cryptocurrencies' influence and feasibility in the DeFi space, his Dogecoin investment came as a surprise to many. He has even advocated for Dogecoin, a meme currency, which makes him different from other investors who don't pay heed to meme coins.
SpaceX Employees Own Doge
Musk said that he invested in Doge because it seems like the people's crypto. When he talked to people at SpaceX and Tesla, he discovered that most of them own Doge. He said that these people are neither Silicon Valley technologists nor the financial experts. supported Doge, however, it also made him invest in the currency.
Another reason Musk gave for investing in Doge is that he loves memes and dogs. He said it would be an entertaining and ironic outcome if a cryptocurrency that began as a meme to make fun of cryptocurrencies became the leading one in the market.
Bottom Line
Elon Musk is quite vocal about cryptocurrencies during events and especially on Twitter. Since he has invested heavily in crypto and is one of the wealthiest people alive, his views seem to drive the crypto market. This is about what cryptos does Elon Musk own.
