Recently, I started investigating something that has always intrigued me: what is Elon Musk's actual crypto wallet? The guy who revolutionized electric cars and went to Mars has a fascinating relationship with cryptocurrencies, and his moves literally move markets.



Let's start with the obvious. Bitcoin is his most confirmed holdings. Back in 2021, Tesla invested 1.5 billion dollars in BTC, and although the company later sold much of it, Musk personally still owns Bitcoin. He sees it as "digital gold," a real store of value. Today, it's at $77.50K, quite a distance from those prices years ago.

Then there's Ethereum. He publicly revealed it at the "The ₿ Word" conference in 2021. For Musk, ETH represents the future because smart contracts are the foundation of DeFi and NFTs, everything happening on the blockchain. It’s currently around $2.13K.

But if there's one thing that defines Musk in the crypto world, it's his obsession with Dogecoin. The guy literally calls it "the people's cryptocurrency" and has talked about using it at Tesla and SpaceX. DOGE is at $0.11 today, and every one of his tweets causes wild movements. Musk loves its meme-based origin, but he also believes it works as a medium of exchange due to its low fees.

Now, here’s where it gets speculative. About Shiba Inu, Musk has denied owning it, but his tweets about "Floki" and other dog-themed coins have caused price spikes. Floki Inu, named after Musk's Shiba Inu, has also generated buzz. The guy basically has the power to move any dog-themed token just by mentioning his pet.

What’s interesting is to see how someone with so much influence in the crypto world chooses which tokens to support. It’s no coincidence that his favorites are Bitcoin (store of value), Ethereum (infrastructure), and Dogecoin (community and utility). If you closely follow Musk’s movements in cryptocurrencies, you’re basically watching how an individual can influence global markets. Definitely something to keep on your radar if you want to understand where this space is headed.
BTC-0.25%
ETH-0.14%
DOGE1.36%
SHIB0.73%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned