Dogecoin – Anthony Scaramucci Reveals How Elon Musk Holds Over $5 Billion In BTC
Skybridge’s CEO, Anthony Scaramucci, revealed some solid insights concerning Elon Musk’s current digital asset holdings, showing how the businessman holds billions in cryptocurrency.
When Tesla purchased $1.5 billion worth of crypto, the digital asset space created a massive buzz over the purchase, as they got excited with Bitcoin’s growing adoption. But with the new information, it seems that Musk indirectly owns a lot more in Bitcoin than he revealed.
Scaramucci believes the billion indirectly holds billions of dollars worth of Bitcoin through his companies, Tesla and SpaceX. This new information would not surprise many, giving that Musk has been unpredictable over the years, especially concerning his cryptocurrency advocacy.
Musk has over $5 billion in crypto
Interestingly, the billionaire wasn’t always a fan of Bitcoin till recently. Sources believe that MicroStrategy’s Michael Saylor could be the sole influence behind the entrepreneur’s change towards Bitcoin. Over the years, Musk has criticized Bitcoin and has often shown a preference for Dogecoin.
The Chief Executive Officer’s influence is always felt in the cryptocurrency space due to his ability to ignite trends and pump crypto prices. The businessman has influenced the Dogecoin culture and has helped the digital asset get widespread adoption in the digital asset space. Scaramucci explained that the famous Tesla buy is not up to one-third of the investment held by Elon Musk and his various firms.
He added that Musk indirectly holds crypto, as he bought billions of assets through SpaceX and Tesla. The manager explained that he has seen the companies’ spreadsheet and can confirm the claim of Musk holding more than $5 billion in Bitcoin. Around early February, the digital asset space got to know of Tesla’s new Bitcoin buy, worth around $1.5 billion.
Investors reacted positively to the news, leading to more asset buys, thereby pumping the price. The company’s filing to the US SEC, which stands for Securities and Exchange Commission, revealed its purchase.
MicroStrategy’s influence on Musk
The purchase surprised many people, giving Musk’s outlook towards Bitcoin around that time. SpaceX’s filing for a Bitcoin purchase did not get much attention because it is not a public company. This means that the firm is not mandated to reveal the Bitcoin holdings it has.
Asides from that information, sources reveal that one of SpaceX’s top executives, Richard Lee, attended Michael Saylor’s popular Bitcoin conference. Saylor regularly organizes conferences concerning Bitcoin to educate both small-scale and institutional investors on Bitcoin investment.
Some months ago, Saylor shared his playbook with Elon Musk, which revealed his plans concerning Bitcoin investment and how the asset would give him attractive returns. Musk must have gotten interested in Bitcoin after the entrepreneur’s advice concerning the crypto being a suitable investment plan. MicroStrategy has also purchased over $2 billion in BTC over GBE past few months, making the crypto its largest investment.
The institution is one of the top firms that have advocated for Bitcoin’s adoption and have helped people make money through their crypto investment. Although most big names own only Bitcoin, many people believe it would change in the next few years.