- Errol Musk revealed that his sons, Elon and Kimbal, hold approximately $1.6 billion in Bitcoin.
- Despite his confidence in crypto’s future, Errol Musk stated he does not personally own any cryptocurrencies.
- Elon Musk is actively integrating Bitcoin payments on X via the Lightning Network.
Errol Musk, father of Tesla CEO Elon Musk, recently disclosed to BeInCrypto that both his sons hold a substantial crypto fortune. This public revelation is notable as Elon Musk has never confirmed the exact size of his personal Bitcoin holdings. The billionaire is known to also own Ethereum and a significant amount of Dogecoin, though specific amounts remain private.
However, his father’s confidence in the asset class is unwavering. Errol Musk declared, “I have no doubt that crypto will be the future of finance.” He believes the traditional financial model has concluded, a sentiment reportedly shared by his son Elon. Consequently, this strong belief coincides with active development at X to accept Bitcoin for payments.
Meanwhile, the 79-year-old engineer clarified his personal stance on ownership. He confirmed he does not own any cryptocurrencies for investment purposes. He described crypto as “fascinating stuff” for enabling direct, cross-border transactions without banks.
Nevertheless, Errol Musk has practical experience with the technology. He has met former Binance CEO CZ and Bybit founder Ben Zhou, receiving payments in Bitcoin outside traditional channels. Therefore, his engagement with crypto has been exclusively for transactional use rather than as a personal investment.
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