Key Takeaways
- Errol Musk states his sons Elon and Kimbal collectively own 23,400 Bitcoin
- The alleged holdings would be valued at approximately $1.7 billion at $74,000 per Bitcoin
- Neither Elon nor Kimbal has publicly confirmed these personal cryptocurrency holdings
- Tesla’s corporate treasury contains 11,509 BTC while SpaceX holds 8,285 BTC
- X platform is introducing Cashtags and plans to debut X Money payment service
In an exclusive conversation with BeInCrypto, Errol Musk—the 79-year-old patriarch of the Musk family—disclosed that his sons Elon and Kimbal collectively possess 23,400 Bitcoin. With Bitcoin trading near $74,000, this alleged cryptocurrency position would command a market value of approximately $1.7 billion.
Neither son has verified this assertion, and no public disclosures of personal Bitcoin holdings at this magnitude have been made by either Elon or Kimbal Musk.
Errol shared these details while discussing his broader perspective on digital currencies. He expressed conviction that cryptocurrency will ultimately supplant conventional financial systems, pointing to the near-impossibility of executing bank wire transfers between South Africa and the United States, while crypto transactions process immediately.
The elder Musk mentioned meeting both Binance’s founder Changpeng Zhao and Bybit’s creator, and has personally accepted cryptocurrency as payment. Interestingly, despite his optimistic outlook on digital assets, Errol confirmed he maintains no personal crypto holdings.
Musk Companies’ Bitcoin Reserves
According to BitcoinTreasuries.net, Tesla maintains 11,509 Bitcoin in its corporate treasury, representing roughly $850 million in value. SpaceX possesses an additional 8,285 Bitcoin, worth more than $620 million. These corporate positions total approximately 19,794 Bitcoin.
The difference between this corporate total and Errol’s cited 23,400 Bitcoin figure indicates he’s likely referencing personal holdings separate from company balance sheets.
Errol additionally revealed the Musk family previously received Solana tokens as payment and liquidated the position at market peak, though specific amounts and timing remain undisclosed.
While Elon has openly expressed support for Bitcoin and Dogecoin in the past, he’s never publicly verified ownership of specific quantities.
Kimbal Musk’s cryptocurrency stance has evolved considerably. In 2022, he dismissed cryptocurrency as a “nonstarter” while criticizing its environmental footprint. Paradoxically, that same year saw him establish the Big Green DAO on Ethereum’s blockchain to revolutionize philanthropic donations.
Kimbal serves on the board of directors for both Tesla and SpaceX. He’s also the founder behind The Kitchen Restaurant Group, the Big Green nonprofit organization, and Nova Sky Stories, a drone entertainment venture.
X Platform’s Financial Features
This week, Elon Musk’s X platform introduced a Cashtags functionality, providing U.S. and Canadian iOS users with live stock and cryptocurrency price tracking directly within the application.
Nikita Bier, X’s product chief, stated the platform “has always been the best source of financial news for traders and investors.”
X Money, the comprehensive payments solution from the platform, is scheduled for early public release in April. The service will offer peer-to-peer money transfers, a Visa-branded debit card, 6% annual percentage yield through Cross River Bank, and cashback incentives across more than 40 U.S. states.
Polymarket prediction markets assign a 31% probability to X Money launching by April 30.
Senator Elizabeth Warren issued a formal letter this week expressing concerns about potential consumer protection and financial stability issues associated with the upcoming product.
Bitcoin currently trades around the $74,000 level. Polymarket participants assign a 36% likelihood of Bitcoin reaching $100,000 before year-end, backed by over $31 million in trading volume.
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Source: https://blockonomi.com/errol-musk-discloses-elon-and-kimbals-alleged-1-7b-bitcoin-holdings/