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Elon Musk holds five types of Crypto Assets;
1. Bitcoin (BTC)
When Elon Musk first announced in 2021 that Tesla would invest $1.5 billion in the Cryptocurrency Bitcoin, the public only found out then. Although Tesla later sold most of its Bitcoin holdings, Musk personally confirmed that he still owns Bitcoin.
Why Bitcoin?
Bitcoin has become the king of Crypto Assets with its unique market dominance. Musk sees it as a store of value similar to "digital gold".
2. Ethereum (ETH)
By market capitalization, Ethereum is the second largest Crypto Asset and also part of Musk's investment portfolio. This was revealed in a speech at the '₿ World' conference in 2021.
Why Ethereum?
The smart contract functionality of Ethereum makes it a cornerstone for DeFi, NFT, and many innovative blockchain applications. Musk sees it as an important player in the cryptocurrency field.
3. Dogecoin (DOGE)
Dogecoin is Musk's favorite Cryptocurrency, and he hasn't hidden that fact. From calling it the "people's encryption" to encouraging the use of DOGE for payments in Tesla and SpaceX, Musk's support has changed the game for DOGE.
Why choose Dogecoin?
Musk appreciates its interesting and meme-based origin, but also believes in its potential as a trading tool, thanks to its low fees and active community. 4. Other possible stocks
Although Musk has confirmed the holding and influence of Bitcoin, Ethereum, and Dogecoin, there is a lot of speculation about the other coins he may own or influence:
Shiba Inu (SHIB): Despite Musk's denial of owning SHIB, his tweets about "Floki" and other dog-themed coins still caused significant market turbulence.
Floki Inu (FLOKI): Floki Inu is named after Musk's Shiba Inu dog, which has attracted people's attention.