Elon Musk and his relationship with crypto: a journey from Bitcoin to Dogecoin

Elon Musk, the most influential tech mogul and entrepreneur on the planet, has never hidden his passion for digital assets. As CEO of Tesla and SpaceX, his moves in the crypto space generate ripples of immediate impact on the markets. His nickname “The Dogefather” was no coincidence, but the result of years demonstrating how a public figure can transform the perception of digital currencies. But beyond marketing and speculation, what are actually the cryptocurrencies that Elon Musk owns and what strategy is behind their holdings?

Dogecoin: Elon Musk’s favorite cryptocurrency in the crypto world

If there is one coin that defines Elon Musk’s relationship with cryptocurrencies, it is undoubtedly Dogecoin. Unlike Bitcoin and Ethereum, where his involvement is more discreet, Musk’s support for DOGE has been open, steady, and transformative. From calling it “the people’s cryptocurrency” to proposing its use as a means of payment in Tesla and SpaceX, each statement has moved markets.

With a current price of $0.12 USD and a -6.71% drop in the last 24 hours, Dogecoin remains volatile. However, the community behind DOGE is what really fascinates Musk: low transaction fees, network speed, and most of all, a lighthearted origin inspired by memes that set it apart from other altcoins. This is why Musk sees in Dogecoin genuine potential as an exchange vehicle, not just speculation.

Bitcoin and Ethereum: the classic duo that Musk keeps in his portfolio

Elon Musk’s relationship with Bitcoin formally began in 2021, when Tesla announced a historic $1.5 billion investment in BTC. Although the company subsequently sold the majority of its holdings, Musk has confirmed on multiple occasions that he personally holds Bitcoin. Currently, Bitcoin is trading at $84.48K USD, reaffirming its position as the global benchmark cryptocurrency.

Why Bitcoin? Musk considers it a digital store of value, similar to traditional gold. In the face of inflation and monetary uncertainty, Bitcoin represents for him an asset without third-party intermediaries, with unparalleled market dominance and time-verified security.

Ethereum, the second-largest cryptocurrency by capitalization, is also part of Musk’s portfolio. During his appearance at “The ₿ Word” conference in 2021, he confirmed his ETH holding. With a current price of $2.82K USD, Ethereum represents something different for Musk: it is the smart contract platform that powers the DeFi ecosystem, NFTs, and innovative blockchain applications. More than a currency, it is digital infrastructure.

Speculative coins: when Elon Musk’s tweets move markets

Although Musk has not publicly confirmed ownership of Shiba Inu (SHIB) or Floki Inu (FLOKI), his casual mentions have led to massive speculative movements. SHIB, which lost -6.37% in the reporting period, was propelled to new highs thanks to Musk’s comments about “dog-themed coins.” Floki Inu, named after Musk’s Shiba Inu dog, has gained traction, with declines of -7.24%, albeit with no confirmation of direct ownership.

This phenomenon reveals something crucial: Elon Musk’s influence on the crypto market goes beyond his confirmed holdings. Their tweets, lighthearted comments, and even simple mentions can turn unknown altcoins into million-dollar viral phenomena.

Elon Musk’s legacy in crypto

Elon Musk’s crypto portfolio reflects a multi-layered strategy: Bitcoin as a store of value, Ethereum as revolutionary infrastructure, Dogecoin as a social experiment and payment vehicle, and a number of speculative altcoins where their mere association amplifies market interest. Far from being a passive investor, Musk has transformed how society perceives digital currencies, proving that personal influence and business acumen can redefine entire sectors in the crypto ecosystem.