Here’s how Dogefather Elon Musk’s crypto portfolio looks like
At The B Word conference in June 2021, Elon Musk said that he supports Bitcoin and has more Bitcoin than Dogecoin and Ethereum.
- Republic Business
- 4 min read
Elon Musk, the owner of SpaceX, Tesla, X (previously Twitter), and the Boring Company is also called ‘Dogefather’ for his keen interest in Dogecoin. What else does Musk hold in his crypto wallet? Well, here’s how Musk’s cryptocurrency portfolio looks like.
In his tweets, Musk has repeatedly talked about cryptocurrencies including Bitcoin, Dogecoin, and Ethereum which have eventually attracted the community's attention. Musk’s tweets have created a lot of speculation around his crypto portfolio however, he never openly disclosed his complete crypto portfolio.
At The B Word conference in June 2021, Elon Musk said that he supports Bitcoin and has more Bitcoin than Dogecoin and Ethereum. At the conference, Musk said that he believes in these cryptos and has no plans to sell them.
Elon Musk’s crypto portfolio
Here is a detailed list of statements and Tweets from Elon Musk that signals his crypto portfolio.
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Bitcoin
Elon Musk talks most about Bitcoin and he has repeatedly confirmed that he owns Bitcoins with no intention to sell them in the near future.
Wanna buy some Bitcoin? 😉😉 pic.twitter.com/9ZbBJ5fuVq
— Elon Musk (@elonmusk) October 22, 2018
Back in February 2021, Musk revealed that Tesla had invested $1.5 billion in Bitcoin and declared its intention to incorporate Bitcoin as a payment option for the company. However, Tesla sold a significant portion of these holdings next year in 2022 and eventually stopped accepting Bitcoins as a payment option.
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Tesla is using only internal & open source software & operates Bitcoin nodes directly.
— Elon Musk (@elonmusk) March 24, 2021
Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.
Elon Musk has repeatedly talked about Bitcoin on Twitter, confirming the fact that he owns Bitcoin in his crypto portfolio. He also engaged in constructive conversations with other Bitcoin influencers to share his thoughts on the platform.
Bitcoin is almost as bs as fiat money
— Elon Musk (@elonmusk) December 20, 2020
Dogecoin
Dogecoin is a meme crypto token and is widely popular among crypto enthusiasts as Musk's favourite crypto token. While attending Saturday Night Live as a host, Musk has referred to himself as 'Dogefather' which resulted in a strong buying rally for the token. In one of his tweets in 2021, Musk said, "No highs, no lows, only Doge."
No highs, no lows, only Doge
— Elon Musk (@elonmusk) February 4, 2021
Only after a few months of buying Twitter, Elon Musk replaced the official Twitter logo with the logo of Dogecoin for no explicit reason.
Elon Musk changed the logo of Twitter with a Dogecoin logo | Image credit: Twitter
Ethereum
In April 2019, Elon Musk tweeted: 'Ethereum.' His single-word tweet increased the investors’ interest in the cryptocurrency. Additionally, it began an online conversation between the co-founder of Ethereum, Vitalik Buterin, and Elon Musk.
At this point, I want ETH even if it is a scam
— Elon Musk (@elonmusk) August 28, 2018
Later in the year, he responded to William Shatner’s tweet by saying that he isn’t building anything on Ethereum. He further said that he’s not against or for Ethereum. He just doesn’t use the currency, nor does he own it.
However, it now seems like he owns the currency since he said it’s one of the three currencies in which he has invested and he is willing to hold it for long.
As a general principle, for those looking for advice from this thread, it is generally better to own physical things like a home or stock in companies you think make good products, than dollars when inflation is high.
— Elon Musk (@elonmusk) March 14, 2022
I still own & won’t sell my Bitcoin, Ethereum or Doge fwiw.
Even though Elon Musk has stopped tweeting about cryptocurrencies as much as he used to, there had been no news about Musk liquidating his personal crypto portfolio. Elon Musk is a prominent internet celebrity and any remarks from him on any investment options impact the market directly. This makes Musk's crypto portfolio an interesting insight for those who actively monitor crypto markets, however, cryptocurrencies are highly volatile investments and must not be invested in without prior research.