Elon Musk remains one of the most influential figures in the global cryptocurrency market. From Bitcoin and Ethereum to Dogecoin, Musk’s statements have repeatedly triggered sharp price movements and investor interest.
In 2021, Elon Musk publicly confirmed that he owns Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE), referring to cryptocurrencies in a tweet as “ascii hash strings,” a comment widely interpreted as both humorous and skeptical of crypto hype.
What Cryptocurrencies Does Elon Musk Own?
Elon Musk has confirmed personal ownership of:
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Bitcoin (BTC)
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Ethereum (ETH)
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Dogecoin (DOGE)
However, Musk has never disclosed the exact amount of cryptocurrency he holds, except for a past comment stating he once owned 0.25 BTC, which he received from a friend.
Why Elon Musk Supports Dogecoin More Than Bitcoin and Ethereum
Among all cryptocurrencies, Dogecoin has received the strongest public support from Elon Musk.
Musk has praised Dogecoin for
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Low transaction fees
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Faster confirmation times
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Simpler blockchain design
On the Lex Fridman Podcast, Musk stated that Dogecoin’s architecture makes it better suited for payments than Bitcoin, despite being originally created as a joke.
Does Elon Musk Have His Own Cryptocurrency or Memecoin?
No. Elon Musk does not have his own cryptocurrency, and he has repeatedly warned users against projects that claim otherwise.
Cryptocurrencies Often Linked to Elon Musk
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Dogecoin (DOGE): Publicly supported and owned by Musk
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Floki Inu (FLOKI): Named after Musk’s dog, but not endorsed or owned by him
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Elon-themed memecoins: Disavowed by Musk
Musk has clearly stated that none of his companies will ever launch a crypto token.
Is Dogecoin Used by Elon Musk’s Companies?
Yes. Several Musk-associated companies have embraced Dogecoin:
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Tesla accepts Dogecoin for selected merchandise
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The Boring Company accepts DOGE for tunnel rides
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SpaceX launched the DOGE-1 satellite mission, funded entirely with Dogecoin
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Musk previously led the Department of Government Efficiency (DOGE) — widely seen as a Dogecoin reference
Should Investors Buy Dogecoin?
Dogecoin is considered a high-risk, speculative asset.
Key concerns include:
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Unlimited supply (inflationary model)
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Limited real-world utility
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Heavy price dependence on sentiment and social media
Unlike Bitcoin (store of value) or Ethereum (smart contracts), Dogecoin lacks a strong long-term use case, according to many analysts.
Does Elon Musk Own Bitcoin?
Yes. Elon Musk has confirmed that he owns Bitcoin.
Despite this, he has criticized Bitcoin multiple times, especially for:
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High energy consumption from mining
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Slow transaction speeds
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Outdated design based on early internet limitations
In 2025, Musk said the America Party, a political group he planned to launch, would be pro-Bitcoin, signaling ideological support despite technical criticism.
Does Tesla Still Own Bitcoin?
Yes. Tesla remains one of the largest corporate holders of Bitcoin.
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Tesla bought $1.5 billion in BTC in 2021
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Temporarily accepted BTC as payment
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Later sold part of its holdings to improve liquidity during COVID uncertainty
As of 2025, Tesla still holds more than $1 billion worth of Bitcoin.
Does SpaceX Hold Bitcoin?
Yes. SpaceX has held Bitcoin since 2021.
In 2025, blockchain data showed a SpaceX-linked wallet moving $150 million in BTC. Despite this, SpaceX still holds over $850 million in Bitcoin, ranking it among the top corporate BTC holders globally.
Has Elon Musk Criticized Ethereum?
Yes. Although Musk owns Ethereum, he has criticized the network for:
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High gas fees
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Slow transaction speeds during congestion
Musk has repeatedly highlighted scalability as Ethereum’s biggest weakness.
Does Elon Musk Own NFTs?
No. Elon Musk does not own or endorse NFTs.
On the Joe Rogan Experience, Musk criticized NFTs because:
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NFT images are often stored off-chain
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They rely on centralized servers, not blockchain storage
After Musk acquired X (formerly Twitter), the platform removed support for blockchain-verified NFT profile pictures.
Could Blockchain Be Used by the US Government?
According to a Bloomberg report (January 2025), Musk’s Department of Government Efficiency (DOGE) explored using blockchain for:
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Tracking federal spending
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Securing government data
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Managing infrastructure assets
It remains unclear whether these initiatives continued after Musk’s departure, though the US government has adopted a more crypto-friendly regulatory stance.
