Key Points
- Elon and Kimbal Musk reportedly possess 23,400 Bitcoin combined, according to their father Errol Musk
- The cryptocurrency holdings would total approximately $1.7 billion at current market rates of $74,000 per Bitcoin
- Neither Elon nor Kimbal has publicly validated this disclosure
- Corporate Bitcoin reserves include 11,509 BTC at Tesla and 8,285 BTC at SpaceX
- X platform is introducing Cashtags functionality and preparing X Money for April release
In an exclusive conversation with BeInCrypto, Errol Musk—the 79-year-old patriarch of the Musk family—revealed that his sons Elon and Kimbal collectively possess 23,400 Bitcoin. With current market valuations hovering around $74,000 per coin, this cryptocurrency cache would represent approximately $1.7 billion in value.
Neither son has publicly authenticated this assertion, and no previous public statements from either individual have acknowledged personal Bitcoin ownership at this magnitude.
During the interview, Errol shared his perspective on digital currencies more broadly. He expressed conviction that cryptocurrency will ultimately supplant conventional financial systems, pointing to the challenges of international banking. He specifically noted that transferring funds between South African and U.S. banks is “practically impossible,” whereas cryptocurrency transactions complete immediately.
Errol mentioned meeting with prominent crypto industry figures including Binance’s Changpeng Zhao and Bybit’s founder, and confirmed receiving cryptocurrency payments personally. Interestingly, despite his optimistic outlook on digital assets, Errol stated he maintains no crypto holdings of his own.
Bitcoin Reserves in Musk Companies
According to data from BitcoinTreasuries.net, Tesla’s corporate balance sheet currently contains 11,509 Bitcoin, representing roughly $850 million in value. SpaceX maintains an additional 8,285 Bitcoin in its treasury, valued above $620 million. The combined corporate Bitcoin reserves total approximately 19,794 coins.
The difference between these corporate holdings and the 23,400 Bitcoin figure Errol mentioned indicates he may be discussing personal investments separate from company balance sheets.
Errol also disclosed that the Musk family previously received payment in Solana and liquidated the position at peak prices, though specific amounts and dates were not provided.
While Elon has historically expressed public support for Bitcoin and Dogecoin, he has never confirmed possessing any particular quantity of either cryptocurrency.
Kimbal Musk’s stance on digital currencies has evolved considerably. In 2022, he publicly dismissed cryptocurrency as a “nonstarter” while criticizing its environmental footprint. Paradoxically, that same year witnessed his launch of the Big Green DAO on Ethereum’s blockchain to revolutionize philanthropic contributions.
Kimbal maintains board positions at both Tesla and SpaceX. His entrepreneurial ventures include founding The Kitchen Restaurant Group, the charitable organization Big Green, and drone entertainment firm Nova Sky Stories.
X Platform’s Financial Features
This week, Elon Musk’s X platform unveiled its Cashtags functionality, providing iOS users in the United States and Canada with real-time price charts for stocks and cryptocurrencies directly within the application.
Nikita Bier, X’s head of product, declared that the platform “has always been the best source of financial news for traders and investors.”
X Money, the company’s comprehensive payments solution, is scheduled to begin early public testing in April. The service will offer peer-to-peer payment capabilities, a Visa-branded debit card, 6% annual percentage yield through Cross River Bank, and cashback incentives across more than 40 states.
Polymarket data shows a 31% probability that X Money will successfully launch by April 30.
Senator Elizabeth Warren issued correspondence this week expressing concerns about potential consumer protection issues and financial stability threats associated with the payment product.
Bitcoin currently trades near $74,000. Polymarket participants assign a 36% probability to Bitcoin reaching $100,000 before year-end, with over $31 million in trading volume supporting these predictions.
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