Elon Musk is one of the most famous entrepreneurs in the world of business and technology. He is known for his projects Tesla Motors and SpaceX, as well as his active involvement in the cryptocurrency sector.
What cryptocurrencies belong to Musk?
Although Musk officially stated only about Bitcoin and Ethereum, there are reasons to believe that Dogecoin is also present in his wallet. On platform X, he has repeatedly expressed his views on cryptocurrencies, including support for the currency #QwadroX (QWRX) and readiness to cooperate with the relevant project (the post was later deleted). But I wouldn't be surprised if we see this coin in his wallet, and then its active promotion.
Bitcoin
At The B Word conference in 2021, Musk expressed support for Bitcoin, which led to a price increase of more than 20%. Tesla Motors purchased BTC worth $1.5 billion but later stopped accepting them as payment for cars due to environmental issues related to cryptocurrency mining. This led to a price drop of 15%, but the company still owns almost 10,000 #BTC , with investments valued at $778 million. Musk stated that he intends to keep the cryptocurrency in his investment portfolio and that Tesla will start accepting bitcoins when the mining process becomes more environmentally friendly.
Ethereum
Musk did not immediately make an official statement about holding Ethereum, but his interest in this project was evident. In interviews, he noted the significant potential of Ethereum and its role in the development of decentralized applications and smart contracts. Some experts believed he might invest in #ETH given his enthusiasm for blockchain technologies. At The B Word conference, Musk confirmed that he holds Ethereum in his wallet, although the exact amount is unknown. After that, the price of ETH rose by 12% and exceeded $2000.
Dogecoin
#Dogecoin became a real sensation thanks to Musk's support, who called this coin the 'people's cryptocurrency.' The token's value rose by 47% after posting a photo with the Falcon 9 rocket signed 'Doge.' The day before the live broadcast of 'Saturday Night Live,' where Musk planned to appear as a host, the currency's value increased by 30%. However, after his appearance on the show, where he openly stated that he has Asperger's syndrome and described this cryptocurrency as 'hype,' the price sharply fell by 28%. Before the show, the price was $0.65, and after it was $0.47.
Elon Musk continues to have a significant impact on the digital asset market. The cryptocurrencies Dogecoin, Bitcoin, and Ethereum remain in the spotlight of investors and enthusiasts. Bitcoin is the main asset that Musk emphasizes, Ethereum is a bet on advanced technologies, and Dogecoin is the first cryptocurrency he started actively promoting.
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