Who’s the most influential person in the cryptocurrency market? Well, today we have tons of options: From Michael Saylor stockpiling Bitcoin to the U.S. President himself, the industry has seen a new rise of personalities championing digital assets.
However, not too long ago, this question would have had one answer, and one answer only: Elon Musk.
Today, one of the most polarizing figures in the public discourse, Elon Musk, has become a notorious champion of crypto assets over the years, responsible for providing a lot of mainstream attention to traditional cryptocurrencies and also memecoins.
But what does Elon Musk’s crypto investment portfolio actually look like? We’ll try to answer this question in this article. So sit tight!
Elon Musk Cryptocurrency Holdings
What cryptocurrencies does Elon Musk own? The data around Musk’s personal cryptocurrency holdings is a little murky. The billionaire never fully disclosed how much crypto he bought. Most of the noise surrounding Musk’s crypto purchases comes by way of corporate ownership.
As the founder and/or creator of several different companies like Tesla, SpaceX, The Boring Company, and xAi (formerly known as Twitter), Musk’s influence over the industry goes beyond just a celebrity who owns crypto. After all, he has been highly meaningful in the industry, even if he is not publicly buying or selling crypto with his money.
However, he once publicly disclosed which cryptocurrencies he privately owns in 2021 at a livestreamed panel from the Bitcoin conference.
“I own Bitcoin, Tesla owns Bitcoin, SpaceX owns Bitcoin... I also own a bit of Ethereum and, of course, Dogecoin.”
To this date, the quote remains one of the few times we got a sense of what Musk’s personal cryptocurrency wallets look like. And while we don’t know the specifics of his personal holdings, the same cannot be said when it comes to Musk-owned corporate cryptocurrency treasuries.
Elon Musk Bitcoin Holdings
The only time the billionaire mentioned an exact number of BTC that he owns was in 2018 when he shared about receiving a 0.25 BTC gift from a friend; other than that, he hasn’t really disclosed the full extent of his holdings.
Tesla Crypto Investments
While we may not know how much Musk as an individual owns, we do get a sense of how much his companies own in Bitcoin.
The electric and autonomous vehicle firm “Tesla” was, for the longest time, one of the leading corporate holders of Bitcoin. The firm first acquired $1.5 billion worth of Bitcoin in February 2021, acquiring around 43,200 BTC at an average cost of $38,000 per coin.
However, the company would later sell 75% of its holdings in mid-2022 for around $936 million. The funny thing is, the company sold that amount at a loss when the market turned bearish that year, selling at an average estimated cost of $31,000 per bitcoin.
If Tesla had never sold its Bitcoin, today the company would have seen over $5 billion in value from that original stash, based on current prices near $114,000 per BTC. But despite this, the company still owns the eleventh-largest corporate Bitcoin holding in the world at 11,509 BTC ($1.35 billion).
SpaceX Bitcoin Holdings
Source: Arkham
As a private company, SpaceX is not obligated to share its financials publicly, making it harder to determine if or how much Bitcoin the company owns. Elon Musk has publicly said that the company owns Bitcoin, but has never mentioned how much.
However, the cool thing about the blockchain is that everything is open on a public ledger. And while the numbers we are about to disclose are not 100% certain, there is a good estimate that they are real.
Blockchain analysis firm “Arkham Intelligence” claims that the company owns 8.285 BTC, around $970 million in today’s value. In July 2025, SpaceX made its first on-chain Bitcoin transfer in over three years, moving 1,308 BTC, roughly $153 million, to a new SegWit-compatible address.
While Tesla has to respond to a board of directors, which could have influenced the 2022 selloff, SpaceX, as a private entity, has remained conservative with its Bitcoin stash, hardly moving the assets over the years.
Does Elon Musk Own Ethereum
Does Elon Musk own Ethereum or other altcoins? We do know that he owns Ethereum and Dogecoin, but as far as other altcoins, no one but him really knows.
In 2018, Musk publicly stated that Ethereum had “some merit”, causing the then-young altcoin to go on a bullish run.
Elon Musk Dogecoin Support
Dogecoin is by far the currency best associated with Musk. Throughout the years, the billionaire has continuously shown his support for $DOGE, helping the memecoin achieve mainstream status and even real-world utility.
His tweets supporting Dogecoin were responsible for a few of the memecoin’s most significant rallies. In 2021, his “Doge barking at the moon” tweet pushed DOGE to its all-time high of $0.73, a 12,000% gain from the start of that year.
The public endorsement of Dogecoin also drew criticism from people who argued that Musk was manipulating the market for personal gain. In 2022, a group of investors filed a $258 billion lawsuit against Musk for market manipulation. The case was dismissed two years later.
Dogecoin has also earned a place as a payment option at Tesla, which accepts $DOGE for a selection of merchandise purchases.
Elon Musk Dogecoin Holdings
How much Dogecoin does Elon Musk have? No one truly knows how much $DOGE Musk owns. This hasn’t stopped the crypto community from trying to find out.
Musk once donated to a charity called GiveDirectly, sending 150,000 DOGE in February 2021, worth around $7,500 to $9,000 at the time. Reddit users later traced the wallet that donated the funds, finding out it owned around 47,000 DOGE at the time.
Also in 2021, an anonymous wallet holding over $3 billion in $DOGE was speculated to belong to Elon. This, however, was never confirmed and remains just an unverified theory, and Musk himself denied ownership of said wallet.
Elon Musk Crypto Influence
The multi-billionaire influenced several different markets in the cryptocurrency industry. On top of the Dogecoin mentions, Musk has also publicly backed, or alluded to doing so, with currencies like Bitcoin, Ethereum, Optimism, and even XRP.
A few examples are:
Bitcoin surged 20% in January 2021 after Musk added “#Bitcoin” to his Twitter bio.
Dogecoin jumped 50% after he tweeted “Dogecoin to the moon!” in April 2021.
OP Token rallied 12% after Musk tweeted, “Optimism is always better,” interpreted as a nod to the Ethereum Layer-2 project.
XRP gained traction after Musk mentioned its potential role in financial institutions during a public interview.
In fact, he has played such a big role in the industry that some projects have sought to connect themselves with Musk, one way or another. Floki Inu is a memecoin that was inspired by Elon Musk’s Shiba Inu dog, named Floki. The coin was launched in 2021 shortly after Musk tweeted about his new puppy. The project quickly became a household name in the memecoin sector, leveraging Musk’s name and influence, despite his having nothing to do with the actual project.
Musk even brought that influence into the White House when he became head of the “Department of Government Efficiency”, or D.O.G.E. His time at the job, however, ended up being extremely polarizing. While some supported the department’s efforts to slash unneeded government spending, others claimed that the department was cutting funds from vital sectors like foreign aid, medical research, and social programs such as “Meals on Wheels”.
Elon Musk Cryptocurrency Strategy
We can only make assumptions as to what type of strategy better suits Elon Musk. While SpaceX appears to be a Bitcoin HODLer, Tesla has sold a large portion of its stash in 2022, while also stopping receiving BTC payments in the same year due to environmental concerns.
Which Cryptos Does Elon Musk Own
Musk’s crypto portfolio is both influential and enigmatic. While the billionaire has confirmed ownership of a few cryptocurrencies, Bitcoin, Ethereum, and Dogecoin, the full scope of his holdings remains speculative.
Meanwhile, Tesla is still one of the largest corporate Bitcoin holders in the world, while SpaceX also owns nearly $1 billion in Bitcoin.
Elon Musk & Crypto: Quick FAQ
1. Did Elon Musk buy Bitcoin for Tesla?
Yes. In February 2021, Tesla bought $1.5 billion worth of Bitcoin.
2. Are Elon Musk’s crypto holdings public or private?
Mostly private. He confirmed owning Bitcoin, Ethereum, and Dogecoin, but never disclosed exact amounts.
3. What crypto assets do Tesla and SpaceX hold?
Tesla: Holds around 11,510 BTC, worth over $1.3 billion.
SpaceX: Holds about 8,290 BTC, valued near $970 million.
4. Which crypto projects has Elon Musk publicly supported?
Dogecoin (DOGE): His favorite; called it “the people’s crypto”.
Bitcoin (BTC): Supported via Tesla’s investment.
Ethereum (ETH): Acknowledged owning it.
XRP & Optimism (OP): Mentioned positively in interviews and tweets.
Floki Inu & Dogelon Mars: Inspired by Musk but not officially endorsed.
