Elon Musk is a famous businessman currently working in the aerospace and electric cars industry. Outside of aerospace and electric cars, he is also a well-known person in the cryptocurrency space. He has also talked about his cryptocurrency holdings during an event “The ₿ Word” related to Bitcoin.
Now the question arises on everyone’s mind, “What Cryptocurrencies Does Elon Musk Hold?”
He has shown his interest in cryptocurrencies including Bitcoin, Ethereum, and Dogecoin. His love for cryptocurrencies can be seen in his tweets. He generally tweets in the favour of Dogecoin, Bitcoin, and Ethereum.
Elon Musk’s Strong Influence in Cryptocurrency Market
Recently the business magnate Elon Musk was asked by a much-followed account related to Shiba Inu, about his holdings of Shiba Inu (SHIB) tokens. But in reply, he said “None”, which means he has no holding of SHIB tokens in his crypto portfolio.
Outside of the meme world, the Shiba Inu is an actual dog breed that inspired the Dogecoin community to create the meme token Dogecoin (DOGE). Shiba Inu is the second most famous meme cryptocurrency after Dogecoin and the Musk’s unfavorable tweet caused SHIB price to drop more than 20%. This shows his strong influence in the cryptocurrency market.
The billionaire Elon Musk has started showing his interest in cryptocurrencies after his tweet about Dogecoin which pushed the meme coin to its all-time highs. His involvement in the crypto market has intensified in the last year.
His company’s stock Tesla hit a $1T valuation which made Elon Musk the richest man in the world and as a consequence the cryptocurrency lovers keep trying to grab his attention with a mention of their crypto assets in his tweets.
Elon Musk expressed his interest in Bitcoin in 2014, saying that, “It’s probably a good thing”. He said he first learned Bitcoin when his friend send him some Bitcoin as a gift to make him aware of this technology.
Elon Musk’s Love Affair With Meme Coin DOGE (Dogecoin)
Dogecoin was started as a joke and Musk started tweeting about this coin by posting pictures of Shiba Inu’s dog taking a drag of a cigarette in April 2019. After his tweet, the price of Dogecoin suddenly started growing and after every tweet.
After that, he tweeted a picture of a storm featuring Shiba dog overtaking the global financial market. He has also been nominated as a Dogefather by the Dogecoin community. He also said he is working with the developers of Dogecoin for improvements in the system’s transaction efficiency.
Which Other Cryptocurrencies Does He Currently Holding?
Musk has shown her long-term relationship with the world’s largest cryptocurrency ‘Bitcoin’. He also confirmed his personal holdings along with Tesla and SpaceX in Bitcoin, Ethereum and Dogecoin during the “The ₿ Word” event while speaking with Cathie Wood and Jack Dorsey back in July 2021. After his mention, the price of Ethereum moved up by over 10% in a few hours.
This shows his overall influence in the cryptocurrency market and his continuous tweets also impact the crypto industry.