Popular cryptocurrency analyst Ali Martinez drew attention to the fact that Elon Musk, who became the world’s first trillionaire, owns Bitcoin (CRYPTO: BTC) and Dogecoin (CRYPTO: DOGE).
Is Musk ‘Orange-Pilled’?
In an X post, Martinez paired a line drawing of Musk with the Bitcoin logo, with the caption, “The world’s first TRILLIONAIRE owns Bitcoin. Let that sink in.”
Both of Musk’s companies, Space Exploration Technologies Corp. (NASDAQ:SPCX) and Tesla Inc. (NASDAQ:TSLA), indeed hold BTC in their reserves. In fact, these two are the only companies in the top 10 by market capitalization that hold BTC on their balance sheets.
SpaceX holds 18,712 BTC on hand as of March 31, recognized at a fair value of $1.29 billion. At current prices, this stash would be worth $1.19 billion. Tesla holds 11,509 BTC, worth more than $734 million, according to on-chain data.
Details about Musk’s personal BTC holdings remain sketchy. Back in 2020, he revealed he had only 0.25 BTC, but there has been no clear update since then.
Notably, Musk went viral for entering Twitter’s San Francisco headquarters carrying a porcelain bathroom sink after acquiring the company in 2022. He later tweeted, “Entering Twitter HQ – let that sink in!”
The ‘DogeFather’
Martinez also pointed out Musk’s ownership of Dogecoin, showing a line sketch of him holding the Shiba Inu mascot.
This assertion appeared to stem from Musk’s 2018 disclosure that he owned “some” Dogecoin apart from Bitcoin and Ethereum (CRYPTO: ETH). Again, the exact amount is not publicly detailed.
Unlike Bitcoin, none of Musk’s companies hold DOGE on their balance sheets.
Musk is known for reigniting community excitement with an offhand remark about Dogecoin. In February, he said that SpaceX would likely put the memecoin “on the moon” next year.
Price Action: At the time of writing, BTC was exchanging hands at $63,847.87, down 2.84% over the last 24 hours, according to data from Benzinga Pro. DOGE traded down 3.72% at $0.08418 at last check.
Photo courtesy: IAB Studio on Shutterstock.com
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