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Elon Musk confirms personal Bitcoin, Ethereum & Dogecoin holdings, 'I might pump, but I don't dump'

In what may be one of the first times he has confirmed his personal investment, Musk shared that he owns quantities of Bitcoin, Ethereum, and Dogecoin.
TJ Denzer
TJ Denzer
2

Considering his regular chatter about it on personal accounts, it could have easily been assumed that Elon Musk had personal investment in various cryptocurrencies. We knew for certain that Tesla did, so there was a decent chance Musk was simply speaking in regards to his company, but the possibility was always there. That said, he recently went live on record to confirm that fact himself. Musk recently confirmed his personal investment in Bitcoin, Ethereum, and Dogecoin, and further shared that he isn’t likely to sell off anytime soon.

Elon Musk made this confirmation in the recent B Word Bitcoin talk presented as part of a day of presentations hosted by ARK Invest. In a panel, Bitcoin as a Tool of Economic Empowerment, during the virtual event, Elon Musk joined Twitter CEO Jack Dorsey and ARK Invest CEO Cathie Wood in informational chatter and discussion about the state of Bitcoin and cryptocurrencies, the strengths and drawbacks, and the truth and fallacies associated with them. It was here that Musk revealed his own person stake in Bitcoin, Ethereum, and Dogecoin.

Musk further stressed that he’s not about to cash out his investments in cryptocurrency anytime soon.

“The three things I own outside of SpaceX and Tesla… of any significance are Bitcoin by far, some Ethereum, and some Doge,” Musk explained. “If price of Bitcoin goes down, I lose money. I might pump, but I don’t dump.”

This statement is in address to the recent drop in Bitcoin value from its highest highs earlier this year. Musk himself had a huge hand in that rise as he revealed that Tesla had converted over a billion in USD to Bitcoin and temporarily accepted the cryptocurrency as payment in transactions. This was put on hold fairly soon after as Musk expressed concerns about the Bitcoin mining process. Musk has also expressed quite a bit of interest in Dogecoin, even to the point of supposedly aiding the Dogecoin devs in reducing cryptocurrency energy consumption since 2019.

Even then, understanding that Elon Musk most certainly has investment in Bitcoin, Ethereum, and Dogecoin paints a more vivid picture of his desire for it to succeed. With this in mind, Musk’s regular involvement in cryptocurrency conversations on and off Twitter should come as no surprise, not to mention his investment in these cryptocurrencies in particular gaining value.

Senior News Editor
Senior News Editor

TJ Denzer is a player and writer with a passion for games that has dominated a lifetime. He found his way to the Shacknews roster in late 2019 and has worked his way to Senior News Editor since. Between news coverage, he also aides notably in livestream projects like the indie game-focused Indie-licious, the Shacknews Stimulus Games, and the Shacknews Dump. You can reach him at tj.denzer@shacknews.com and also find him on Twitter @JohnnyChugs.

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