Tesla CEO Elon Musk has frequently spoken about cryptocurrencies and even dabbled in them. advancement, just remember his tweets about Dogecoin or dogwifehatHowever, as a recent court hearing involving Musk showed, he is not friendly to all digital currencies.
Musk sued OpenAI, the company he founded in 2015, for abandoning its non-profit activities and developing commercial products after an investment deal with Microsoft.
Interestingly, OpenAI’s lawyers claim that Musk always understood that the organization could eventually become a commercial entity.
According to tweet New York Times reporter Mike Isaac said Musk described cryptocurrencies at a court hearing on Wednesday:
Some of them have some basis, but most are scams.
In early 2021, Tesla has acquired $1,5 billion worth of Bitcoin, becoming one of the first public companies to use its corporate balance sheet to purchase the cryptocurrency.
Around the same time, Musk began actively tweeting about the memecoin. Dogecoin (DOGE), and this contributed to a sharp rise in its value.
In mid-2022, Tesla sold 75% of its Bitcoin-assets. As of March 31, 2026, Tesla had were 11,509 BTC purchased for $386 million.
Another major project of the SpaceX company, According to Arkham, as of April 30, held 8,285 BTC, valued at $631,58 million.
Considering the rate at which Bitcoin was purchased (around $40,000), Musk-linked companies are definitely in the black with the current BTC price above $77,000.
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