Which Cryptos Does Elon Musk Own?

Elon Musk has publicly disclosed that his portfolio includes Bitcoin, Ethereum, and Dogecoin – any other crypto investments remain unreported by the Tesla founder. 

Elon Musk is undoubtedly one of the most influential figures in crypto, and his recent statement after the 2024 US election has also significantly impacted the market. Musk has never hidden his strong advocacy for cryptocurrencies, specifically Bitcoin and Dogecoin. Both of his ventures, Tesla and SpaceX, have also invested substantial assets in crypto.

So, given Musk’s strong influence and interest in the market, which cryptocurrencies does the billionaire entrepreneur own? Let’s explore.

Does Elon Musk own any Dogecoin (DOGE)?

Perhaps no other token reflects Musk’s influence on the crypto market more than DOGE, the premier meme coin. In addition to endorsing the meme coin from time to time, Musk has also allowed certain Tesla accessories and merchandise to be purchased with DOGE on its official website.

Dogecoin’s recent rally of over 250% in November is also associated with the Tesla founder’s statements. The surge followed President-elect Donald Trump’s announcement of the ‘Department of Government Efficiency’ (DOGE), to be co-led by Elon Musk and Vivek Ramaswamy.

The acronym DOGE, coinciding with the cryptocurrency’s ticker symbol, likely contributed to increased investor interest, propelling Dogecoin’s value to approximately $0.40 and a market capitalization of around $60billion.

So, does Musk actually own any Dogecoin? As of the last known reports, he has indeed invested in the meme coin. In July 2021, Musk publicly stated that he personally owned Dogecoin. However, he also specified that he holds more Bitcoin than Ethereum or Dogecoin.

Elon Musk’s crypto portfolio

As of November 2024, Elon Musk’s publicly disclosed cryptocurrency holdings include Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE). He has not revealed any other significant cryptocurrency investments.

Bitcoin (BTC)

In February 2021, Tesla announced a $1.5bn investment in Bitcoin, which significantly influenced the market.

Although Tesla sold a portion of its Bitcoin holdings in 2022, the company retained a substantial amount. As of early 2024, Tesla and SpaceX collectively held over $1.3bn in Bitcoin. Musk has indicated that both Tesla and SpaceX maintain Bitcoin in their reserves, reflecting his confidence in the cryptocurrency’s value.

Ethereum (ETH)

Musk confirmed his personal investment in Ethereum during a July 2021 conference, marking his first public acknowledgment of holding ETH. He has not provided specific details regarding the extent of his Ethereum holdings.

Dogecoin (DOGE)

Musk has been a prominent advocate for Dogecoin, frequently expressing support through social media and public statements. His endorsements have often led to significant fluctuations in Dogecoin’s market value. In December 2021, Tesla began accepting Dogecoin as payment for merchandise, further demonstrating Musk’s endorsement of the cryptocurrency.

Musk’s crypto portfolio appears to be concentrated in these three assets. He has not publicly disclosed investments in other cryptocurrencies.

How much Bitcoin does Tesla Own

In addition to investing in these assets himself, Musk has also invested in Bitcoin through his founded businesses. As of November 2024, Tesla holds approximately 11,509 Bitcoin (BTC), valued at over $1.05 billion. This valuation reflects the recent surge in Bitcoin’s price, which reached an all-time high of $92,000.

Timeline of Tesla’s Bitcoin investments

• February 2021: Tesla invested $1.5bn in Bitcoin, aiming to diversify and maximize returns on its cash holdings.
• March 2021: The company began accepting Bitcoin as payment for its vehicles.
• May 2021: Tesla suspended Bitcoin payments, citing environmental concerns related to Bitcoin mining.
• July 2022: Tesla sold approximately 75% of its Bitcoin holdings, adding $936m in cash to its balance sheet.
• October 2024: Tesla transferred its entire Bitcoin holdings, worth around $770m, to new digital addresses. This action initially fueled rumors about the company potentially selling its BTC holdings. However, it was later confirmed as a security initiative.

How much Bitcoin does SpaceX hold?

As of November 2024, SpaceX holds approximately 8,285 BTC – valued at over $700m. This holding reflects the company’s strategic investment in digital assets. Bitcoin is also the only cryptocurrency reported to have been invested in by SpaceX.

In August 2023, reports indicated that SpaceX had written down the value of its Bitcoin holdings by $373m over the previous two years, suggesting significant fluctuations in the value of its cryptocurrency assets. Despite these challenges, SpaceX’s continued investment in Bitcoin underscores its commitment to incorporating digital currencies into its financial strategy.