🎩 Elon Musk's Crypto Assets: What's in His Portfolio?
Today, we want to delve into the cryptocurrency portfolio of Elon Musk. This entrepreneur and founder of companies like Tesla and SpaceX is a vocal supporter of cryptocurrencies and has often influenced their prices with his statements.
Elon Musk 👤 is known not only as a technological innovator but also as one of the most influential investors in the crypto world. His tweets can literally change market prices.
So, what digital assets does Elon Musk hold?
🪙 Bitcoin
In February 2021, Musk announced that Tesla had bought $1.5 billion worth of Bitcoin and would start accepting it as a form of payment.
This news led to a surge in Bitcoin and other cryptocurrencies.
However, later in May, 👤 Musk shocked everyone by retracting the decision to accept Bitcoin due to environmental concerns, causing its price to drop.
His concerns are based on two factors:
1️⃣ The carbon footprint of Bitcoin is comparable to that of the entire country of Uzbekistan.
2️⃣ The electricity consumption of this currency is comparable to the total electricity consumption of Thailand.
Despite this, Musk believe in Bitcoin's potential.
⚪️ Ethereum: The Mysterious Tweet
In April 2019, Elon Musk tweeted a single word:
"Ethereum"
This tweet increased investor interest in the cryptocurrency. Despite initially stating that he does not use Ethereum, Musk now claims that he owns this currency.
🐶 Dogecoin: The People's Cryptocurrency
Musk 👤 said he invested in Dogecoin because it resembles the people's cryptocurrency. He found that many employees at SpaceX and Tesla own Doge, which also pushed him to invest.
He also announced that Tesla would release some merchandise that could be purchased with Doge. This statement by Musk raised the price of Dogecoin by 23%.
Additionally, Musk loves memes and dogs.
One time on X, Elon Musk wrote:
"I still have a lot of Dogecoin, and SpaceX has a lot of Bitcoin."