Elon Musk's father claims Tesla CEO and his brother hold BTC

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Elon Musk's father claims Tesla CEO and his brother hold BTC.

crypto :: 8hrs ago :: source - thestreet

By Pooja Rajkumari

TheStreet / Getty Images

Errol Musk, father of Tesla (Nasdaq: TSLA) and SpaceX founder Elon Musk, has revealed that his two sons hold a considerable amount of Bitcoin (BTC).

The claim came during an exclusive interview with BeInCrypto, in which the 79-year-old South African engineer also offered an unusually candid view of the Musk family's broader relationship with digital assets.

Errol's disclosure came along with his own strong views on the future of finance.

"I have no doubt that crypto will be the future of finance. The old model has run its course, it's finished."

He grounded his conviction in direct experience, describing how cross-border bank transfers between South Africa and the United States are "practically impossible," while crypto transactions happen instantly.

He said that he has met Binance founder Changpeng "CZ" Zhao and the founder of Bybit, and added that he has personally received crypto payments outside of traditional banking channels.

Yet despite his conviction, Errol admitted he does not own any digital assets himself.

He added that he finds crypto "fascinating stuff," even if his working knowledge of it remains limited.

Errol Musk reveals sons' crypto holdings

Errol claimed that both his sons hold Bitcoins.

"I know it sounds astronomical. Elon and Kimbal, my two sons, have 23,400 Bitcoins," Errol said.

The family's crypto exposure does not stop at Bitcoin.

Errol revealed that the Musks once received a payment in Solana (SOL), which he valued at slightly over one million rubles at the time of receipt.

"We received Solana back then, it was worth much more, and we got out at the peak," he said.

How much crypto do Musk brothers really hold?

Elon has previously vouched for Bitcoin and Dogecoin (DOGE), but has never revealed holding specific quantities.

However, two of his companies are already exposed to crypto.

SpaceX currently holds 8,285 BTC worth over $620 million, as per BitcoinTreasuries.net. The position has remained unchanged since mid-2024.

Tesla held 11,509 BTC worth $862.06 million.

Meanwhile, Elon's younger brother Kimbal, an entrepreneur, restaurateur, and philanthropist, has had mixed opinions on crypto and has never revealed any crypto holdings.

In 2022, he publicly called cryptocurrency a "nonstarter" and criticised its environmental impact. Yet in the same period, he launched the Big Green DAO on the Ethereum blockchain to modernise charitable giving.

Currently, Kimbal sits on the boards of both Tesla and SpaceX and is best known for founding The Kitchen Restaurant Group and Big Green, a nonprofit focused on food education in schools. He is also the founder of Nova Sky Stories, a drone light show entertainment company that specializes in creating massive, synchronized aerial displays.

TheStreet Roundtable reached out to both Elon and Kimbal Musk via Tesla and Nova Sky for comments and had not received a response by the time of publication.

At press time, Bitcoin was trading at $74,748.11, having dropped 0.6% in the past 24 hours as per CoinGecko.

This story was originally published by TheStreet.

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