Tuesday, October 19, 2021

Elon Musk Confirms He Owns Ethereum and Dogecoin, Says Both Tesla and SpaceX Own Bitcoin

Elon Musk, the CEO of Tesla and founder of SpaceX, has recently confirmed that he owns Ethereum (ETH) and Dogecoin (DOGE), adding that both Tesla and SpaceX currently hold Bitcoin (BTC).

Elon Musk made this known at The B Word panel with the CEO of Twitter, Jack Dorsey. In his opening statement, he stated that he remains a supporter of the flagship cryptocurrency, Bitcoin (BTC), and cryptocurrencies despite his disinterest in energy-consuming proof-of-work (PoW) consensus.

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Which Public Stock and Cryptocurrencies He Owns?

According to Elon Musk, the only public stock he owns is Tesla, but the only three meaningful assets he owns aside from Tesla Stock (TSLA) are Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE). He added that he owns much more BTC than ETH or DOGE.

Aside from the number of digital currencies he claimed he owns, Elon Musk also confirmed that SpaceX also owns Bitcoin (BTC).

It was made public earlier this year that the electric car manufacturing company, Tesla, acquired $1.5 billion worth of BTC. However, it was not officially announced that the space exploration tech firm, SpaceX, owns Bitcoin. Although the billionaire tech expert did not disclose the worth of BTC SpaceX currently holds.

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Elon Musk noted:

“I do own Bitcoin, and Tesla owns it, and SpaceX owns it… and I own a little bit of Ethereum and, of course, Dogecoin.”

“In general I’m a supporter of Bitcoin and the idea of cryptocurrency…But as I said publicly, we need to watch out for crypto taking, especially Bitcoin, using proof of work to maybe use energy that’s maybe a bit too much and not necessarily good for the environment…Bitcoin does some things well, and it’s evolving… Usability for the average person is not very good, but it has a lot of potential. 

Praising Bitcoin as a censorship-resistant asset, he said, “But Bitcoin per se is mostly solving for scarcity. Or rather, solving for essentially, having no throat to choke, decentralized. So there’s no one who can be coerced in any way to empty that Bitcoin account. Well, I guess they could technically but on an individual basis.”

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In the course of the conversation, he described his vision for the future of Bitcoin as a single layer and pointed out that SpaceX is playing a vital role in this regard.


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Solomon Odunayo
Solomon Odunayo is a cryptocurrency journalist with over 3 years of experience in the crypto industry. He's sternly interested in covering developments of emerging and established blockchain projects.

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