An audio recording featuring Elon Musk has emerged, revealing details about the cryptocurrencies Musk owns and the cryptocurrencies his companies own.
In the recording, Musk revealed that he has “some Dogecoin.”
He also revealed that private aerospace company SpaceX also holds “a large amount of Bitcoin.” However, the exact amount is unknown as, unlike public companies, SpaceX is not required to disclose such details.
Another of Musk’s ventures, Tesla, previously made headlines with a significant Bitcoin purchase in 2021 but later sold most of its holdings citing environmental concerns. There has been speculation that Musk’s statements could signal a potential shift in Tesla’s stance on Bitcoin, raising the possibility of re-entering the cryptocurrency market in the future.
Meanwhile, former President Donald Trump announced an initiative called the “Department of Government Efficiency” (DOGE) as a reference to Dogecoin. Trump described DOGE in his statement as an effort to “reduce excessive regulation, cut wasteful spending, and restructure Federal Agencies.” He noted that Musk and entrepreneur Vivek Ramaswamy will contribute to the project, which is targeted to be completed by July 4, 2026, the 250th anniversary of the Declaration of Independence.
While the funding and staffing of the DOGE initiative remain unclear, a social media account associated with the project posted a call for “super-high-IQ small-government revolutionaries willing to work 80+ hours a week on non-glamorous cost reduction.” Musk later confirmed that participation would be free, adding “there’s zero fee.”
*This is not investment advice.