Quick Summary
- Errol Musk, father of tech entrepreneurs Elon and Kimbal Musk, states his sons collectively own 23,400 Bitcoin
- The cryptocurrency stash carries an estimated value of $1.7 billion based on current trading prices around $74,000 per coin
- Neither son has publicly confirmed or denied the disclosure
- Corporate holdings show Tesla with 11,509 BTC and SpaceX maintaining 8,285 BTC
- The X platform continues building its financial ecosystem with Cashtags live and X Money scheduled for April
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. Current market valuations place this cryptocurrency cache at approximately $1.7 billion, with Bitcoin trading near the $74,000 mark.
The disclosure remains unverified, as neither Elon nor Kimbal has ever made public statements confirming personal Bitcoin ownership at this magnitude.
During the interview, Errol expanded on his perspectives regarding digital currencies. He expressed conviction that cryptocurrency will eventually supplant conventional financial systems, pointing to the challenges of international banking between South Africa and the United States as evidence. Traditional wire transfers face significant hurdles, while cryptocurrency transactions complete almost instantaneously, he noted.
Errol mentioned meeting prominent figures in the crypto space, including Binance founder Changpeng Zhao and Bybit’s founder. He confirmed receiving payments in cryptocurrency himself. Interestingly, despite his bullish outlook on digital assets, Errol stated he maintains no personal crypto holdings.
Bitcoin in Corporate Treasuries
Data from BitcoinTreasuries.net shows Tesla maintains a position of 11,509 Bitcoin, currently valued near $850 million. SpaceX holds an additional 8,285 Bitcoin, representing over $620 million in value. The combined corporate treasury holdings total approximately 19,794 Bitcoin.
The difference between the corporate total and the 23,400 figure Errol mentioned indicates he likely referenced personal wallets separate from company balance sheets.
Errol additionally revealed the Musk family once received Solana tokens as payment and liquidated the position during a price peak, though specific amounts and dates remained undisclosed.
Elon has historically expressed support for Bitcoin and Dogecoin through social media and public statements, yet has never disclosed precise ownership quantities.
Kimbal Musk’s stance on cryptocurrency has evolved considerably. In 2022, he openly dismissed cryptocurrency as a “nonstarter” while expressing concerns about environmental consequences. During that same period, he established the Big Green DAO on Ethereum’s blockchain as a vehicle for modernizing philanthropic contributions.
Kimbal serves on the boards of both Tesla and SpaceX while maintaining leadership roles in several ventures including The Kitchen Restaurant Group, the nonprofit organization Big Green, and Nova Sky Stories, a drone entertainment venture.
X Platform Expands Financial Features
This week, Elon Musk’s social media platform X introduced Cashtags functionality, enabling iOS users in the United States and Canada to view live stock and cryptocurrency price charts directly within the application.
Nikita Bier, X’s head of product, stated the platform “has always been the best source of financial news for traders and investors.”
X Money, the platform’s comprehensive payments system, is scheduled to begin early public rollout in April. The service will feature peer-to-peer transfer capabilities, a Visa-branded debit card, 6% annual percentage yield provided through Cross River Bank, and cashback rewards accessible in more than 40 states across America.
Polymarket, a decentralized prediction platform, assigns a 31% probability to X Money launching by the April 30 deadline.
Senator Elizabeth Warren submitted correspondence this week expressing concerns about potential consumer protection issues and financial stability risks associated with the upcoming payment product.
Bitcoin maintains trading levels around $74,000. Based on over $31 million in trading volume, Polymarket participants assign a 36% probability to Bitcoin reaching the $100,000 milestone before year-end.
