Elon Musk reveals the surprising amount of Bitcoin he owns on Twitter

Elon Musk of SpaceX and Tesla told Twitter followers that he, in fact, has never purchased cryptocurrency

Mike Richardson
Read +
Follow Us

The billionaire CEO of SpaceX and Tesla told Twitter followers that he, in fact, has never purchased cryptocurrency, and only holds a small amount of Bitcoin gifted by a friend.

I literally own zero cryptocurrency, apart from .25 BTC that a friend sent me many years ago,” Musk said in a tweet on Thursday. That’s about $2,552.42 as of Friday afternoon (Bitcoin values fluctuate constantly). Musk, by contrast, is worth $21.4 billion, according to the Bloomberg Billionaire Index.

The tweet was made in response to scam posts on Twitter claiming to be Mr. Musk requesting Ethereum. It’s an issue that has plagued the Twitter network, with scammers impersonating blockchain figures such as Vitalik Buterin in attempts to steal users cryptocurrency. Twitter users are warned to never send cryptocurrency to anyone claiming to be hosting a giveaway or event.

“What’s with all the ETH spam?” a user asked, referring to the cryptocurrency Ethereum.
“Not sure,” Musk responded. “I let [Jack Dorsey, CEO of Twitter] know, but it’s still going.”

Twitter handles that resemble famous people, like Musk or even President Donald Trump, scam people out of their cryptocurrencies, BuzzFeed reported earlier this month.

Whilst the businessman may not own cryptocurrency, it was reported in 2016 that he was not against the technology. When appointed to Trump’s team of advisers he declared that Bitcoin was, in fact, a “good thing”, although he did not elaborate in great detail.

Elon Musk’s lack of involvement with cryptocurrency is interesting, as decentralized technology firmly aligns with his professed aspirations for a better human society. Whether his involvement will change as blockchain technology develops remains to be seen.