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Elon Musk’s crypto portfolio includes Bitcoin, Ethereum, and Dogecoin

The Tesla CEO confirms he only owns three types of cryptos.

Elon Musk / Image by: Wikimedia Commons

Tue, 26 Oct 2021, 08:22 am UTC

Tesla and Space X CEO Elon Musk is known for his market-moving tweets on various cryptocurrencies. While the billionaire has posted tweets about an altcoin on social media this year, Musk clarified that he only owns Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE).

Throughout 2021, Elon Musk posted images of his Shiba Inu puppy on Twitter, which appeared to have influenced the price movement of the Shiba Inu altcoin, according to CNBC. However, the billionaire recently cleared speculations on what his connection to the altcoin might be by announcing that he does not own Shiba Inu.

In fact, his portfolio only has three cryptos in it. “Out of curiosity, I acquired some ascii hash strings called ‘Bitcoin, Ethereum & Doge’,” Musk tweeted on Sunday. “That’s it.”

Musk’s post was a response to previous messages by Twitter users Salif Cybertruck or Bust (@Filasophical) and Shiba Inu (@ShibaInuHodler). The latter asked Musk if he holds Shiba Inu tokens while the former asked if he owns any FLOKI token.

Aside from saying that he does not own any of the two altcoins, Musk also hinted that people should exercise caution when investing in crypto assets. “As I’ve said before, don’t bet the farm on crypto!” he added. “True value is building products & providing services to your fellow human beings, not money in any form.”

Musk added around $36.2 billion to his net worth on Monday as Tesla’s price surged by almost 13 percent, according to Business Insider. It was the largest single-day gain ever recorded in Bloomberg’s Billionaires Index.

Musk cemented his position as the world’s wealthiest person and is now estimated to be worth $288.6 billion. For comparison, Amazon founder Jeff Bezos, the world’s second-wealthiest person, has a net worth or around $192.6 billion.

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