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What Cryptocurrencies Does Elon Musk Own?

SpaceX has been officially added to the list of corporations that own Bitcoin.

Elon Musk, general director of SpaceX and Tesla (TSLA), said during a debate Wednesday that SpaceX owns Bitcoin and will not sell it. During the day, the price of Bitcoin and Bitcoin’s shares increased.

Musk said that, besides Bitcoin, he had Etherum and, “of course”, Dogecoin, a cryptocurrency based on memes that began as a joke.

“The Dogecoin Community is rather irreverent, has wonderful myths and loves dogs,” Musk noted during a Bitcoin panel along with Cathie Wood, the ARK invest CEO, Square (SQ) and Jack Dorsey, the Twitter CEO (TWTR). “I also like dogs and memes. It is also not taken too seriously.”

It was not known how much crypto Musk or SpaceX own. Response requests from Tesla and SpaceX were not returned immediately.

The Commission therefore considered that the measures in force did not have an effect on the market. And he said he would not sell any of his Bitcoin.

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Tesla said earlier this year that it acquired about $1,5 billion in Bitcoin. However, it eventually sold around 10% of its shares. Microstrategy (MSTR), a supplier of business analyzes, also owns Bitcoin.

‘In general, I would say I support Bitcoin.’

During the panel, Musk said that “overall, I support Bitcoin”. Comments come after Musk, frequently through his Twitter account, has made the Bitcoin price oscillate in recent months.

Earlier this year, Tesla allowed consumers to purchase Tesla cars using cryptocurrencies. The company then stopped the orders, citing concerns about Bitcoin’s energy consumption.

During the panel, Musk said that when Tesla first declared support for Bitcoin, the price of the crypto rose sharply. However, he admitted that the energy needed to purchase Bitcoin did the same.

“The goal of Tesla is to accelerate … sustainable energy,” he explained. “We cannot be the firm that does this and, at the same time, not be able to do a proper diligence regarding Bitcoin’s use of energy.”

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He said further research is needed to prove that Bitcoin’s use of renewable energy was at or above 50%. If that happens, and usage statistics indicate an increase in this proportion, Tesla will resume accepting Bitcoin, he added. However, reaching agreement by the Cryptocurrency mining community on data sharing and energy requirements could be challenging.

Leah Hutton (Luxembourg)

Leah Hutton has recently joined Tokenhell team as a freelance writer. She has comprehensive knowledge of blockchain and various cryptocurrencies.

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