Elon Musk is quietly stacking an uncommon asset
Billionaire Elon Musk is among the public figures most closely followed by the crypto community on social media. In fact, the social media platform X that he helms is one of the most popular platforms for crypto-related discussions.
On July 2, a popular crypto X handle, @VandelayBTC, wondered why Musk had completely stopped talking about Bitcoin, to which another crypto handle, @coinjoined, responded that maybe Musk is quietly stacking BTC.
It was another random conversation on X until Musk liked the comment by @coinjoined, and crypto Twitter just lost it.
When other X users doubted whether it was Musk or a parody account liking the comment, @coinjoined showed everyone that it was indeed Musk.
Even Grok confirmed it was Musk but suggested verifying claims independently instead of relying on social media speculation.
Nonetheless, Musk's fondness for Bitcoin isn't new.
As reported earlier, Tesla (Nasdaq: TSLA) holds more than $1 billion in BTC on its account book.
In fact, the EV maker began accepting Bitcoin payments for purchases on March 24, 2021. But it abandoned this policy on May 12, 2021, due to concerns over the adverse environmental effect of Bitcoin mining.Launched in 2009, Bitcoin is the world's largest cryptocurrency today. With a market cap of $2.1 trillion, it accounts for more than 60% of the total crypto market cap of $3.3 trillion.
As the U.S. celebrates Independence Day on July 4, it's crucial we evaluate how much this asset that claims to offer financial freedom has appreciated in value over a year.
Since July 4, 2024, Bitcoin has grown nearly 85% in value until July 4, 2025. At press time, BTC was trading at $107,750.71 as per Kraken's price feed.
Disclaimer: The content above is intended for informational purposes only and should not be taken as financial advice. Do your own research before investing.
Elon Musk is quietly stacking an uncommon asset first appeared on TheStreet on Jul 4, 2025
This story was originally reported by TheStreet on Jul 4, 2025, where it first appeared.
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