What cryptocurrencies does Elon Musk own?
In 2021, Elon Musk confirmed that he owned BTC, ETH, and DOGE in a Twitter post.
In the tweet, Musk playfully referred to these cryptocurrencies as ‘ascii hash strings’ to suggest that digital assets are nothing more than hashed sequences.
Of these three cryptocurrencies, Musk has given the most vocal support to DOGE. While he’s offered praise for BTC and ETH, Musk has also criticized both of these cryptocurrencies on different occasions.
Does Elon Musk own Dogecoin?
Musk has championed Dogecoin on multiple occasions. Musk has praised the cryptocurrency both for its humor and for its underlying technology.
On an appearance on the Lex Fridman Podcast, Musk praised Dogecoin for its relatively fast transaction speeds and low fees. While he acknowledged that DOGE originally was created as a joke, he said that Dogecoin’s blockchain design made it better suited for transactions than Bitcoin.
While Musk has confirmed that he owns DOGE, it’s unclear how much he holds.
Let’s walk through some of the ways organizations affiliated with Elon Musk have supported Dogecoin.
- At the time of writing, Tesla accepts DOGE as a form of payment.
- The Boring Company accepts DOGE to pay for rides.
- SpaceX announced DOGE-1 — a satellite mission 100% paid for in DOGE.
- Elon Musk serves as the head of the newly-created Department of Government Efficiency (DOGE) — which was likely named as a nod to Dogecoin.
Should I invest in DOGE?
It’s important to remember that the value of DOGE is highly speculative.
While Bitcoin is an inflation-resistant store of value and Ethereum helps enable decentralized applications, DOGE currently has limited real world uses. In addition, the supply of DOGE is highly inflationary.
Does Elon Musk own Bitcoin?
In a tweet in 2018, Musk said that he owned .25 BTC that a friend sent him. It’s unknown whether Elon Musk currently owns Bitcoin.
In 2021, Elon Musk’s company Tesla bought $1.5 billion of BTC and introduced Bitcoin as a payment option. The stated reason for this purchase was for ‘more flexibility to further diversify and maximize returns for our cash’.
Just two months later, Tesla stopped accepting BTC as payment and began converting its existing Bitcoin holdings to cash. According to Musk, this move was intended to improve the company’s cash position in the face of uncertainty over COVID-19 lockdowns in China.
Has Elon Musk criticized Bitcoin?
Despite holding Bitcoin, Musk has criticized the cryptocurrency on several occasions.
Musk cited fossil fuel consumption associated with Bitcoin mining as a reason why Tesla would no longer accept BTC as payment.
Musk has also criticized the design of Bitcoin. In an appearance on the Lex Friedman Podcast, Musk said that Bitcoin was too slow because it was designed in 2008 — when Internet connectivity was much lower than it is today.
Does Elon Musk own Ethereum?
In 2021, Musk publicly confirmed that he owned Ethereum. However, he has criticized Ethereum for having slow transaction speeds and high fees.
Does Elon Musk own NFTs?
At this time, Musk does not endorse any NFT collection.
On an appearance on the Joe Rogan Experience, Musk criticized NFTs because the images themselves are not hosted directly on the blockchain. According to Musk, this means that NFTs rely on centralized entities.
Before Musk owned X, the company supported blockchain-verified NFT profile pictures. The company stopped supporting the feature after Musk took control of the platform.
Does Elon Musk have his own memecoins?
While Musk does not have a personal cryptocurrency, he has been linked to several memecoins, including:
- Dogecoin (DOGE) – As mentioned earlier, Musk has been a vocal proponent of DOGE.
- Floki Inu (FLOKI) – FLOKI is a cryptocurrency inspired by Musk’s pet Shiba Inu (also named Floki) — though the project has not been endorsed by Musk. In the past, Musk has publicly said that he does not own FLOKI.
- Elon-themed tokens – Many projects have launched meme tokens with his name, though Musk has disavowed them.
You should be cautious of Elon Musk-branded memecoins. Many of these projects simply use Musk’s likeness to attract attention, but are not affiliated with Musk in any way. Musk has also said that none of his companies will create a crypto token.
Will blockchain be used in the US government?
A report in Bloomberg in January 2025 said that Elon Musk’s Department of Government Efficiency (DOGE) was considering using blockchain technology to track federal spending, secure data, and even manage buildings.
At this time, it’s unclear whether this idea will make it to DOGE’s final recommendations (due July 2026) or be implemented into law. In addition, it’s unclear which blockchain the government would use for this purpose.
However, it’s a clear sign that Elon Musk and the Trump Administration are pursuing crypto-friendly policies.
