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Elon Musk is the CEO of Tesla and SpaceX. He has been a vocal supporter of cryptocurrencies. When he tweets, investors of cryptocurrencies pay focus. Elon Musk and cryptocurrency have a deep connection.
Sometimes, these investors pay too much attention to Elon Musk. Investors are very crazy about him and we can take ideas from the coming example.
When Elon Musk tweets the pictures of his Shiba Inu puppy. The price rate of real digital coin Shiba Inu rises. But the question here arises is does a billionaire’s dog picture make cryptocurrency more valuable?
Indeed not, the actual reason is that Elon Musk owns three cryptocurrencies and the interesting fact is that Shiba is not one of these currencies.
However, in this article, we will tell you about the cryptocurrencies that Elon Musk owns. So let’s start the discussion.
How Elon Musk is Related to Cryptocurrency?
As we tell you above Elon Musk owns three cryptocurrencies. These crypto coins are the major connection between Elon Musk and cryptocurrency.
Here we will discuss these three cryptocurrencies that he owns. So have a look.
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Bitcoin
Rumors circulated in 2017 that Elon Musk is the mastermind behind Satoshi Nakamoto. Satoshi is the creator of Bitcoin but keeps his appearance mysterious.
Also, Elon Musk denied all those rumors. But still, Musk is a huge fan of Bitcoin for a long time. In early 2019, Elon Musk said in an ARK podcast that paper money will go away in the coming years,
Cryptocurrency is a far better way to transfer value as compared to pieces of paper. He also appreciates Bitcoin and said that the technology behind bitcoin is brilliant.
In addition, Tesla announced that it bought Bitcoin worth $1.5 billion earlier this year. Tesla also began to accept crypto as payment for their electric cars.
But this acceptance procedure lasts only a couple of months. This is because of the high energy consumption that is required to mine Bitcoin.
However, Elon Musk said that Tesla will resume accepting the cryptocurrency. Elon Musk had only a small position in Bitcoin for a long time.
He also said in early 2019 that he owned only 0.25 bitcoins that a friend gives to him. However, this year in summer he confirmed that Bitcoin is one of his largest holdings in cryptocurrency. Also, he plans to hold these Bitcoins for a long time.
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Dogecoin
The second cryptocurrency coin that Elon Musk owns is Dogecoin. He has become the public face of Dogecoin practically.
He wanted to have these currencies three years back. In 2018, Elon Musk reached out to the creator of Dogecoin Jackson Palmer.
So that he can ask for help in removing scam bots from his Twitter account. In the same year, Elon Musk hinted in a tweet that Dogecoin might be one of his favorite cryptocurrencies.
This reason is that he finds this cryptocurrency pretty cool. Furthermore, he won the vote in a poll taken by Dogecoin’s official Twitter account on April Fool’s Day.
This poll was about which CEO hypothetically would be the best CEO for Dogecoin. Elon musk also temporarily change his Twitter profile to read former CEO of Dogecoin.
However, from 2020, Elon Musk starts to tweet about Dogecoin now and then. With his single tweet, the price of the coin jumps. This summer, Elon Musk confirmed that he owns Dogecoin personally.
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Ethereum
The first interaction of Elon Musk with Ethereum was not considered positive. The Twitter scam for which the tool helps from Dogecoin’s creator is related to Twitter users.
These users posted as successful people supposedly giving away high amounts of Ether tokens. Also, his only one-word tweet in April 2019 states only Ethereum.
It means he stoked interest in cryptocurrency. After that, this interest also prompted an online exchange between Elon Musk and Vitalik Buterin co-founder of Ethereum.
In the same year, Elon Musk seemed to be on the fence about Ethereum. However, he responded to a tweet, “I am not building anything on Ethereum. Not for or against it, just don’t use it or own any”
Wrapping It All Up!!!
From Elon Musk’s tweet about Ethereum people concluded that he does not have any Ethereum coins yet. But it is confirmed that he owns Bitcoin and Dogecoin. Stay connected to Elon Musk’s tweets to know whether he owns Ethereum or not.
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