Tesla Billionaire Elon Musk Reveals How Much Bitcoin He Owns (2024)
Billionaire Elon Musk is a huge fan of cutting-edge technology and is usually ahead of the curve when it comes to finance, but he's not a bitcoin bull. The co-founder of Tesla Inc. revealed on Twitter that he owns only a tiny fraction of one bitcoin token.
"I literally own zero cryptocurrency, apart from .25 BTC that a friend sent me many years ago," Musk confessed.Using today's bitcoin price of about $10,000 a coin, that translates to $2,500.
Musk's indifference to bitcoin probably wasn't a shock to his fans,since he recently revealedthat "a friend sent me part of a BTC a few years, but I don’t know where it is." (See also:Elon Musk: Education, Success Story and Net Worth.)
Is Elon Musk Satoshi Nakamoto?
In November 2017, Musk denied rumors that he was Satoshi Nakamoto, the mysteriousinventor of bitcoin. The brouhaha erupted after aformer SpaceX intern,Sahil Gupta, in ablog post on Medium, wrote "Satoshi is probably Elon."
Gupta reasoned: "Elon is a self-taught polymath. He’s repeatedly innovated across fields by reading books on a subject and applying the knowledge. It’s how he built rockets, invented the Hyperloop (which he released to the world as a paper), and could have invented Bitcoin."
The true identity ofNakamoto has never been confirmed, but there has been a steady stream of speculationabout who he is ever since bitcoin quietly launched in 2009. (See also:Tesla CEO Elon Musk Denies Being Bitcoin Creator.)
Meanwhile, Musk isn't the only billionaire who's skeptical of bitcoin and the cryptophenomenon. Bitcoincynics are put off by the virtual currency's erratic price movements, lack of regulation, and absence ofa valuation guarantee becauseit's not backed by a central bank.
Billionaire Charlie Munger, the second-in-command at Berkshire Hathaway, slammed bitcoin as a"noxious poison" and called the media hype surrounding digital currencies"totally asinine."
And in its latest letter to clients, the Paul Singer-led Elliott Management, which oversees$34 billion in assets, excoriated cryptocurrencies as a bubble, a scam and a fraud.“This is not just a bubble," Elliott wrote. "It is not just a fraud. It is perhaps the outer limit, the ultimate expression, of the ability of humans to seize upon ether and hope to ride it to the stars."
Investing in cryptocurrencies and other Initial Coin Offerings ("ICOs") is highly risky and speculative, and this article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies or other ICOs. Since each individual's situation is unique, a qualified professional should always be consulted before making any financial decisions. Investopedia makes no representations or warranties as to the accuracy or timeliness of the information contained herein. As of the date this article was written, the author owns no cryptocurrencies.
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revealed on Twitter that he owns only a tiny fraction of one bitcoin token. "I literally own zero cryptocurrency, apart from . 25 BTC that a friend sent me many years ago," Musk confessed. Using today's bitcoin price of about $10,000 a coin, that translates to $2,500.
Tesla holds over 9,720 BTC, according to data tracked by Bitcoin Treasuries, and is the third-largest public holder of the asset behind software firm MicroStrategy (MSTR) and mining player Marathon (MARA). The Elon Musk-led company invested $1.5 billion in bitcoin in February 2021, accumulating some 43,000 BTC.
Whether you're interested in crypto or not, you've probably heard of Dogecoin. This meme-based cryptocurrency — Elon Musk's favorite — is making headlines again.
For the third year running, Changpeng Zhao, founder and former CEO of crypto exchange Binance, is crypto's wealthiest person. Despite pleading guilty to U.S. money laundering charges in November, CZ, as he's known, is now worth an estimated $33 billion, up from $10.5 billion last year.
Who owns the most Bitcoin in the world? The top Bitcoin holder is still believed to be Satoshi Nakamoto, the anonymous creator of Bitcoin, who reportedly holds around 1.1 million BTC across many wallets. Despite this large holding, the top 10 holders collectively only possess about 5.5% of the total Bitcoin supply.
“Arkham has identified the BTC holdings of Tesla and SpaceX. We are the first to publicly identify these holdings on chain,” the firm posted on X. Arkham believes Tesla currently holds 11,509 BTC across 68 addresses, worth $770.7 million, and SpaceX 8,285 BTC among 28 addresses, worth $554.9 million.
and SpaceX have a combined total of around 19,800 Bitcoins, according to Arkham. The stash is divided across many wallets: Tesla holds around 11,500 BTC across 68 addresses, while SpaceX holds around 8,300 tokens across 28 wallets.
According to Tesla's latest financial reports the company has $29.09 B in cash and cash equivalents. A company's cash on hand also refered as cash/cash equivalents (CCE) and Short-term investments, is the amount of accessible money a business has.
While he personally believes in crypto and owns some himself, he also calls it a “Hail Mary.” In a January ask-and-answer session on X, Cuban said that his crypto portfolio includes Bitcoin, Ethereum, Polygon and Injective, and that his NBA team the Dallas Mavericks still accepts Dogecoin as payment.
The live Elon Musk price today is $0.000020 USD with a 24-hour trading volume of $296.41 USD. We update our MUSK to USD price in real-time. Elon Musk is down 8.28% in the last 24 hours. The current CoinMarketCap ranking is #6769, with a live market cap of not available.
Known as the 'Dogefather' in the crypto community, Musk has been a vocal supporter of Dogecoin for some time. He disclosed owning Dogecoin, Bitcoin, and Ether, affirming his continued ownership of "a bunch of dogecoin" as of January.
Bankman-Fried, 32, sentenced for fraud on customers of the FTX cryptocurrency exchange he founded. Former crypto tycoon Sam Bankman-Fried has been sentenced to 25 years in United States federal prison for stealing $8bn from customers of the now-bankrupt FTX cryptocurrency exchange he founded.
How Long Does It Take to Mine 1 Bitcoin? The reward for mining is 3.125 bitcoins. It takes the network about 10 minutes to mine one block, so it takes about 10 minutes to mine 3.125 bitcoins.
SEATTLE—Billionaire Changpeng Zhao, founder of Binance, the world's biggest crypto exchange, was sentenced Tuesday to four months in prison, a lighter punishment than requested by prosecutors who hoped to send a message about crime in the industry. “You had a responsibility to comply with United States regulations.
Later in the year, he responded to William Shatner's tweet by saying that he isn't building anything on Ethereum. He further said that he's not against or for Ethereum. He just doesn't use the currency, nor does he own it.
Tesla's (TSLA) bitcoin (BTC) holdings held steady in the third quarter, the U.S.-based car manufacturer's new earnings report revealed Wednesday. The quarterly report did not mention bitcoin implying that the firm did not buy or sell any bitcoin in the three months ended September.
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