Errol Musk, father of Elon and Kimbal Musk, disclosed that his sons hold Bitcoin worth approximately $1.6 billion. He stated he is confident cryptocurrencies are the future of finance but confirmed he does not personally own any. The revelation comes as Elon Musk is reportedly considering broader Bitcoin integration for payments on the X platform.
Errol Musk, the father of Tesla CEO Elon Musk and Kimbal Musk, revealed that both his sons own a considerable amount of Bitcoin. According to his revelation made in an interview, their combined BTC holdings are worth approximately $1.6 billion.
Elon Musk has not publicly disclosed the exact amount of his Bitcoin holdings. Apart from Bitcoin, he also holds Ethereum and a considerable amount of Dogecoin.
The 79-year-old South African engineer expressed a strong belief in the asset class’s future. “I have no doubt that crypto will be the future of finance. The old model has run its course, it’s finished,” he said.
His father’s views emerge as Elon Musk is actively considering accepting Bitcoin for X payments. The platform currently allows BTC for tipping via the integrated Lightning Network.
Despite his confidence, Errol Musk confirmed he does not own any cryptocurrencies himself. He described crypto as “fascinating stuff” for facilitating cross-border transactions without banks.
He noted he has personally met former Binance CEO CZ and Bybit founder Ben Zhou, receiving Bitcoin payments outside traditional channels. He stressed these were for payments only and not for investment purposes.
