Elon Musk

Elon Musk has emerged as one of the most influential figures in cryptocurrency, with his social media posts and business decisions regularly moving markets and shaping public perception of digital assets. The Tesla and SpaceX CEO has revealed he personally owns only Bitcoin, Ethereum, and Dogecoin, while his companies have integrated cryptocurrency payments and even funded space missions with digital assets. Musk's public backing of Dogecoin has long been a major driver of its price, making the meme coin particularly sensitive to his public statements and endorsements.

Through his various companies, Musk has pioneered corporate cryptocurrency adoption beyond traditional treasury strategies. Tesla accepts DOGE as payment for merchandise, The Boring Company accepts DOGE for rides, and SpaceX announced DOGE-1 — a satellite mission 100% paid for in DOGE. His influence extends from calling Dogecoin "the people's crypto" to briefly adding Bitcoin to Tesla's balance sheet, demonstrating how individual endorsements can drive mainstream cryptocurrency adoption.

At CoinDesk, we track Elon Musk news covering his cryptocurrency investments, social media market impact, and his companies' blockchain innovations. Our reporting examines how Musk's tweets influence crypto markets, his role in popularizing meme coins, Tesla's evolving crypto payment strategies, and the broader implications of celebrity cryptocurrency endorsements on market dynamics and regulatory discussions.

DISCLOSURE: This text was written with the assistance of AI, then reviewed by a person.

Videos

Fake Grimacecoin Jumps 285,000% After McDonald’s’ Tesla Joke

"Grimacecoin," a token created after a McDonald’s joke tweet, surged as much as 285,641% for a few hours Wednesday. Tesla CEO Elon Musk tweeted, “I will eat a happy meal on TV if McDonald’s accepts Dogecoin," to which McDonald's replied, “Only if Tesla accepts grimacecoin,” referencing its purple mascot fashioned after a taste bud. "The Hash" panel discusses the latest instance of Musk's influence on the meme economy.

Jan 26, 2022

Markets

Fake Grimacecoin Jumps 285,000% After McDonald’s’ Tesla Joke

Opportunistic actors made quick money creating a token named after a burger-loving purple taste bud.

By Shaurya MalwaJan 26, 2022

(Copyright Tim Roberts via Getty Images)

Videos

Dogecoin Surges as Payments Go Live on Tesla Store

Dogecoin (DOGE) payments went live on the Tesla store during Asian hours Friday, with prices seeing an 11% increase shortly afterward. This comes after Tesla CEO Elon Musk said the electric-car maker would accept dogecoin as payment for its merchandise in December. Earlier this year, Tesla started accepting bitcoin.

Jan 14, 2022

Markets

Volatility Ruled Crypto Markets in 2021, From $69K Bitcoin to Elon Musk’s ‘Dogecoin to the Moooonn’

NFTs exploded, Coinbase stock went public, El Salvador bought the dip and China cracked down on bitcoin miners, while Solana’s SOL tokens and Polygon’s MATIC shot up by multiples of 90 or more. Here’s how crypto traders played it.

By Damanick DantesDec 31, 2021

Tesla CEO Elon Musk (Getty Images, modified by CoinDesk)

Podcasts

Travis Kling on Why Elon’s BTC Buy Was the Biggest Story of the Year

By Nathaniel WhittemoreDec 28, 2021

Finance

Planning for Better Breed of DOGE: Dogecoin Foundation Lays Out First-Ever Road Map

It’s the first-ever road map released by the foundation in its eight-year history and explores eight new projects, including the launch of LibDogecoin and GigaWallet.

By Tanzeel AkhtarDec 24, 2021

Markets

Market Wrap Year In Review: Remembering Bitcoin’s FUD-Fueled Crash

As crypto markets moved through April and May, many buyers began to cash out as fear, uncertainty and doubt (”FUD”) overwhelmed traders. Concerns included U.S. capital gains taxes on digital assets, bitcoin’s environmental footprint and an outright ban on crypto mining in China.

By Damanick DantesDec 23, 2021