Elon Musk, an American entrepreneur born in South Africa, is renowned for founding Tesla and SpaceX. He is treated as one of the wealthiest businesspeople in the world, and his fascination with the crypto landscape and blockchain technology has played a relevant role in structuring the market.
Elon Musk’s impact on the Crypto market is undeniable because of his reputation as a disruptor, innovator, and billionaire; his opinions and social media pronouncements on cryptocurrency lead to significant changes in both market prices and investor sentiment.
Who is the Biggest Influencer of Bitcoin: Elon Musk or Satoshi Nakamoto?
The renowned companies of Musk: SpaceX and Tesla, have a high connection with the crypto market, and Tesla holds a relevant amount of Bitcoin while SpaceX holds the stablecoin Tether.
The Tesla Billionaire has a revolutionary crypto plan, and his continuous promotion of the cryptocurrency has led many to question whether Elon Musk and the mysterious person who developed Bitcoin, called Satoshi Nakamoto, might actually be one and the same.
Satoshi Nakamoto described Bitcoin as the “A P2P (Peer-to-Peer) Electronic Cash system”. This system helps to make the online payments sent directly from one group to another without the presence of a financial firm or any mediator.
Reports state that Satoshi Nakamoto is one of the most important Bitcoin holders, and he is also popular for being the first miner of the currency, having 1 million BTC in their stash.
However, the statements and actions of Musk have fueled the Satoshi theory regarding Bitcoin, but he denied the rumors that he was Satoshi Nakamoto.
Elon Musk revealed through Twitter that he holds only very few Bitcoins (25 BTC), which were given by his friend many years ago. His companies own a large amount of Bitcoin, which makes him the biggest celebrity to hold the most Bitcoin in the world.
According to bitbo.io, by February 12, 2025, Tesla owns 11509 bitcoins, and there is no precise data about which prices Tesla bought its Bitcoin. Due to the advocacy towards the crypto market, Elon changed his Twitter bio to “#bitcoin” in 2021. This caused a high twist in the price fluctuations of distinct cryptocurrencies and attracted more individuals to the crypto landscape.
Controversy, by highlighting the environmental concerns of Tesla, Elon Musk will stop accepting Bitcoin as a payment option, as its high usage of fossil fuels for Bitcoin mining and transactions causes harmful impacts.
Anyhow, Musk’s statements and activities had a heavy impact on crypto investors and supporters, and they considered his words as one of the loudest voices in the cryptocurrency world. The financial progress of Elon Musk’s companies is partially linked to the performance of cryptocurrencies, and he does not trust in getting the price high and purchasing; he only needs to see the success of Bitcoin, according to CNN.com.
Meanwhile, Elon Musk is not the only billionaire with relevant Bitcoin holdings. Other rich people who have high investments in cryptocurrency are Paul Singer, founder of Elliott Management, and Charlie Munger, chairman of Berkshire Hathaway.
