The Only Cryptocurrencies Elon Musk Owns — and Shiba Inu Isn’t 1 of Them – Motley Fool

The Only Cryptocurrencies Elon Musk Owns — and Shiba Inu Isn’t 1 of Them – Motley Fool

When Elon Musk tweets, cryptocurrency investors pay attention. The Tesla (NASDAQ:TSLA) and SpaceX CEO has long been a vocal proponent of cryptocurrencies.

Sometimes, though, cryptocurrency investors might pay too much attention to Musk. As a case in point, when Musk tweets pictures of his Shiba Inu puppy, the price of digital coin Shiba Inu (CRYPTO:SHIB) tends to rise. Does a photo of a billionaire’s dog really make the cryptocurrency more valuable? Of course not.

Here are the only cryptocurrencies Mush actually owns — and Shiba Inu isn’t one of them.

Gold coins with 1s and 0s and locks on them.

Image source: Getty Images.

1. Bitcoin

Back in 2017, rumors circulated that Musk was actually the real person behind Satoshi Nakamoto, the mysterious creator of Bitcoin (CRYPTO:BTC). Musk denied those rumors. However, he’s certainly been a big fan of Bitcoin for quite a while. 

The billionaire said in an ARK Invest podcast in early 2019, “Paper money is going away. Crypto is a far better way to transfer value than pieces of paper, that’s for sure.” He especially lauded Bitcoin, stating that the technology behind it is “quite brilliant.” 

Earlier this year, Tesla announced that it bought
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