--- title: "Elon Says SpaceX is Also Hoarding Bitcoin, Not Just Tesla" description: "Not just Tesla is hoarding Bitcoin — SpaceX is amassing undisclosed amounts of the cryptocurrency as well, Elon Musk revealed during a conference." date: "2021-07-22" modified: "2021-07-22" authors: - name: "Victor Tangermann" job_title: "Senior Editor" link: "https://futurism.com/authors/victor" url: "https://futurism.com/the-byte/elon-musk-spacex-bitcoin" categories: - "Advanced Transport" - "Bitcoin" - "Blockchain" - "Cryptocurrency" - "Future Society" - "Space" - "SpaceX" - "Tesla" tags: - "bitcoin" - "elon musk" - "SpaceX" - "tesla" - "the digest" --- # Elon Says SpaceX is Also Hoarding Bitcoin, Not Just Tesla ![Not just Tesla is hoarding Bitcoin — SpaceX is amassing undisclosed amounts of the cryptocurrency as well, Elon Musk revealed during a conference.]() *\Image: Futurism\* ## Hoarding Bitcoin It's not just Tesla that's hoarding Bitcoin — SpaceX is also amassing undisclosed amounts of the cryptocurrency, Tesla and SpaceX CEO Elon Musk revealed during a blockchain conference on Wednesday. "SpaceX, Tesla, and I own Bitcoin," [Musk revealed]() during the conference. But he also took the opportunity to come clean as well about the company's intentions. "We’re not selling any Bitcoin, nor am I selling anything personally or nor \[sic\] is SpaceX selling any Bitcoin." We've known that Tesla made a $1.5 billion investment in the token at the same time Musk announced the car company would [start accepting]() it as a form of payment. What we didn't know, however, is that SpaceX has also invested in the highly unstable cryptocurrency. ## Ups and Downs It's an odd revelation, too, given the fact that Tesla [reversed its decision]() to accept Bitcoin just months after first acquiring the assets. In a [statement]() at the time, Musk claimed the move was made over environmental concerns. Musk's comments this week gave Bitcoin a boost, and also caused the value of alternative crypto Dogecoin and Ethereum [to rise](). The CEO has long enjoyed tremendous amounts of influence over the fate of cryptocurrencies, leading critics to claim he was involved in pump and dump schemes, the [*Financial Times* reports](). Those schemes usually involve first artificially inflating the price of an owned asset with positive statements, only to 'dump' it for a profit later. Tesla did [sell off roughly ten percent]() of its considerable Bitcoin holdings in April, which inflated Q1 revenue numbers by some $101 million. But Musk maintains that neither he nor his companies are involved in any such schemes. "I might pump but I don’t dump," he said during Wednesday's conference. "I definitely do not believe in getting the price high and selling or anything like that. I would like to see Bitcoin succeed." What we can rule out, however, is Tesla's alleged concerns over the environment. If it was about the carbon footprint, it would have never made its investment in Bitcoin in the first place — and the same goes for SpaceX. It's unclear how many Bitcoins the space company holds or what it is planning to do with it. And given Musk's unpredictable track record, it's impossible to know for sure. **READ MORE:** [Elon Musk says SpaceX holds Bitcoin, ribs Jack Dorsey at conference]() \[*The Verge*\] **More on Elon:** *[Oops, Elon Musk Says Tesla Might Start Taking Bitcoin Again]()* ## Author I've been at Futurism since 2017, where my role has evolved to encompass design, writing, and increasingly editing. I've always been fascinated by space exploration and advanced transportation, which I've leaned into by interviewing luminaries in those fields while closely following the dimensions of policy and regulation that allow next-generation projects to succeed -- or, sometimes, to fail. I'm also keenly interested in the effects of generative AI on society, policies, and democratic institutions, as well as clean energy, physics and biology, and the vagaries of tech leadership. My work for Futurism has been cited by publications including Ars Technica, Gizmodo, PC Magazine, Jalopnik, Fox News, and the New York Post. I spent my childhood living in locations including Manila, the Philippines, and Geneva, Switzerland, attended McGill University, and now live in Toronto, Canada. Before Futurism I worked at AskMen and a small photography studio. In my free time, I'm an avid gardener, foodie, and craft beer lover, as well as a maker of artisanal hot pepper sauces. I have a magnificent dog named Freida. ### Author social links [Bluesky]()