Elon Musk has always been very outspoken about his admiration for the cryptocurrency industry. This tech billionaire has allowed cryptocurrency payments for many of his projects. Musk recently stated, 'I think cryptocurrency is an interesting wall and could have value against centralized control.'
With a love for cryptocurrency, let's take a look at the top three cryptocurrency assets owned by the richest man in the world.
Elon Musk's largest cryptocurrency holding: A closer look
1. Dogecoin (DOGE)
Musk has repeatedly stated that DOGE is his favorite cryptocurrency and that he owns a 'pack of Dogecoin.' Musk has said he likes the project's non-serious nature and has allowed DOGE payments for Tesla merchandise. The company may start accepting DOGE for its vehicles in the future, which Musk stated, 'At some point, I think we should allow that.'
This tech mogul has also carried out a satellite launch project with his SpaceX division, paid for with meme cryptocurrency. Musk also hopes to open a Department of Government Efficiency (DOGE) if Donald Trump wins the upcoming U.S. presidential election.
2. Bitcoin (BTC)
According to Arkham, Tesla has about $778 million in Bitcoin (BTC), the original cryptocurrency, making it a BTC whale. The company recently moved all of its BTC holdings from its public wallet, causing quite a stir in the market. Tesla also accepted Bitcoin (BTC) as a payment method for its cars, but this service was shut down after a few months. Although Tesla owns $778 million worth of BTC, Musk has previously said that he only owns 0.25 BTC.
3. Ethereum (ETH)
Musk has said that he owns three types of cryptocurrency: Ethereum (ETH). At the B Word conference, Musk publicly stated that he also owns ETH, in addition to DOGE and BTC. His comments caused ETH to rise by 12%. Although Musk has publicly acknowledged owning ETH, it is unclear how much of this cryptocurrency he currently holds.
