Exponential currency debasement: ‘You don’t own enough crypto, NFTs’

Exponential currency debasement: ‘You don’t own enough crypto, NFTs’

Cryptocurrencies and non-fungible tokens (NFTs) can help investors protect their eroding purchasing power during an era of exponential currency debasement, according to analysts and industry leaders.

Investing in digital assets is becoming increasingly important in the “world of the exponential age and currency debasement,” according to Raoul Pal, founder and CEO of Global Macro Investor.

“You don’t own enough crypto. When you do, you don’t own enough NFT’s, as art is upstream of wealth. Both will never be this cheap again,” Pal said.

NFTs are “the single best long term store of wealth I know and you get to buy it before network effects kick in,” he added in another response.

“There is some validity to the statement that NFTs, and in extension art, become a vehicle for the wealthy once a certain level of wealth is reached,” wrote Nicolai Sondergaard, research analyst at Nansen, calling it a “natural move” for asset diversification.

“For traders and investors, further down the wealth curve, NFTs are partially about speculating on future returns,” he told Cointelegraph, adding that NFTs also benefit from the allure of strong communities, beyond just wealth creation.

Related: German gov’t missed out on $2.3B profit after selling Bitcoin at $57K

Art NFTs may see a resurgence as “digital ownership gains acceptance among younger, tech-savvy cohorts,” if collections manage to move past the “speculative fervor,” according to Anndy Lian, author and intergovernmental blockchain expert.

Still, Lian said broader adoption depends on blockchain networks improving scalability and security to “instill confidence.” He added that art NFTs “must transcend hype, anchoring value in cultural significance or utility.”

Some digital artists made millions of dollars through NFTs. Digital artist Mike Winkelmann, also known as Beeple, auctioned his “Everydays: The First 5000 Days,” NFT artwork for a record-breaking $69 million in March 2021.

Meanwhile, the largest NFT collections continue to lack upside momentum, unable to recover toward their 2021 highs.

CryptoPunks, the largest NFT collection by market capitalization, is currently trading at a floor price of 46 Ether, 59% down from its peak of 113.9 ETH, recorded on Oct. 9, 2021, NFTpricefloor data shows.

NFT market set for recovery in early 2026, after Bitcoin cycle top

Despite the temporary lack of interest, NFTs could be poised to see more momentum after the profits from Bitcoin’s cycle top start rotating into other digital assets.

“That likely puts the peak of the NFT market in Q1 2026, but don’t expect a repeat of the 21/22 euphoria that we saw in NFTs,” according to Yehudah Petscher, strategist at CryptoSlam NFT data platform and SlamAI.

“We’re likely an entire cycle away from NFTs having a parabolic run,” Petscher told Cointelegraph, adding:

“There is a perfect storm brewing for 2030: BTC at $1 million, a matured metaverse, AI reshaping labor economics (whether through universal basic income or universal high income, falling production costs, etc), AR/VR adoption, and NFT ownership equaling ownership of a brand.”

However, the previous NFT bull market was driven largely by metaverse speculation and wealthy traders, Petscher noted — factors that are mostly absent in the current cycle.

 

Source: https://cointelegraph.com/news/currency-debasement-own-enough-crypto-nfts

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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What Crypto Does Elon Musk Own? Top 3 Holdings

What Crypto Does Elon Musk Own? Top 3 Holdings

Elon Musk is one of the world’s most influential figures, best known as the co-founder and chief executive of electric vehicle carmaker Tesla. Musk has also founded a neurotechnology firm Neurolink, a tunnel construction service The Boring Company, a space exploration company SpaceX, and the artificial intelligence (AI) startup xAI.

Cryptocurrency is yet another industry that Musk is closely associated with. His influence over the crypto market is considerable, as his social media posts have shown the power to move digital asset prices.

What crypto does Elon Musk own in 2025? Let’s explore his personal crypto portfolio as well as the top Musk-inspired crypto projects.

Key Takeaways

  • Elon Musk has publicly confirmed owning Bitcoin, Ethereum, and Dogecoin despite speculation about other holdings.
  • He has been a vocal supporter of Dogecoin, calling it “the people’s coin” and working with developers to improve the network.
  • Tesla and SpaceX have integrated crypto into their businesses, with Tesla holding Bitcoin and accepting DOGE for select payments.
  • Musk has explored using blockchain technology for government efficiency under the Trump administration.
  • His influence on the crypto market remains strong as his tweets and policies affect investor sentiment.

What Cryptocurrency Does Elon Musk Own in 2025?

While there have been rumors about Musk holding various meme coins, he has only confirmed owning three cryptocurrenciesBitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE).

1. Bitcoin (BTC)

Does Elon Musk own Bitcoin? Yes.

Musk’s first public mention of Bitcoin traces back to October 2014. At the time, Musk sat down for an on-stage interview with Walter Isaacson during Vanity Fair’s New Establishment Summit. At one point in the discussion, Isaacson asked the Tesla CEO whether he believed Bitcoin could disrupt fiat currencies. Musk responded:

“I think Bitcoin is probably a good thing. I think it’s primarily going to be a means of doing illegal transactions. But that’s not necessarily entirely bad. You know, some things maybe shouldn’t be illegal.”

He added that Bitcoin could be useful for legal and illegal transactions. “Otherwise, it would have no value as a use for illegal transactions because you have to have a legal-to-illegal bridge,” he said.

Musk first publicly revealed his Bitcoin holdings in 2021 during  “The B-Word” conference. He stated that both he and Tesla own Bitcoin.

He reiterated his crypto holdings in a tweet in October 2021, denying rumors that he owned SHIB.

2. Dogecoin (DOGE)

Musk has been Dogecoin’s biggest supporter, frequently tweeting about it and pushing for its real-world utility. The billionaire first tweeted about the original meme coin in 2019, saying that DOGE was his favorite cryptocurrency.

In 2021, he explained why he supports Dogecoin, a meme-inspired cryptocurrency that began as a joke in 2013. He said Dogecoin has become “the people’s coin” as many workers without financial knowledge own it.

In 2021, he also revealed that he had collaborated with DOGE developers since 2019 to improve the network. His advocacy has even led Tesla and SpaceX to accept DOGE for some payments.

3. Ethereum (ETH)

In 2019, Elon Musk stirred the crypto community by tweeting about Ethereum. His tweet simply said “Ethereum,” followed by “jk,” likely as a joke and possibly to avoid Twitter suspensions related to crypto scams.

At times, the billionaire has also engaged in discussions with Ethereum creator Vitalik Buterin. But overall, he hasn’t spoken about Ethereum as frequently as Bitcoin or Dogecoin.

Elon Musk’s Relationship With Crypto

Musk’s relationship with cryptocurrencies has been both supportive and controversial. Over the years, he has used his massive social media presence to discuss digital assets, often triggering market movements.

Specifically, Musk has been a vocal supporter of Dogecoin, even mentioning the meme coin during his Saturday Night Live monologue in 2021. Furthermore, his space technology firm SpaceX plans to launch DOGE-1, a space mission funded by Dogecoin.

Under Donald Trump’s presidency, Elon Musk has reportedly initiated discussions on integrating blockchain technology within the newly established Department of Government Efficiency as part of the new administration’s push to advance the digital asset industry.

According to a Fortune report, Musk, who leads the DOGE effort, has explored using blockchain for cost-cutting measures in government operations, including tracking federal spending, securing data, making payments, and managing buildings.

Elon Musk-Inspired Cryptocurrency Projects

Although the information about Elon Musk’s investments in cryptocurrency is limited, his prominence in the tech world made him the inspiration model for numerous crypto projects.

As of February 10, 2025, Musk-related cryptocurrencies had a combined market capitalization of $37.55 billion.

Name Price Market Cap
Dogecoin (DOGE) $0.2528 $37.41 billion
Dogelon Mars (ELON) $0.00 $119.7 million
Grok (GROK) $0.00 $18.56 million
Department Of Government Efficiency (DOGE) $0.00 $204,740

Source: CoinMarketCap

Tesla’s Crypto Investments

Musk’s interest in crypto has led his firm to explore various crypto initiatives. For one, in early 2021, Tesla purchased $1.5 billion worth of Bitcoin to “diversify and maximize returns” on cash not reserved for operations.

While the company paused BTC payments, Tesla still holds Bitcoin on its balance sheet. Additionally, Tesla accepts Dogecoin for select merchandise, reinforcing Musk’s ongoing support for crypto adoption.

According to Bitcoin TreasuriesTesla’s total Bitcoin stash stood at 9,720 BTC as of February 10, 2025. Tesla’s average purchase price per Bitcoin was $34,722, and with Bitcoin’s recent surge in value, the company’s holdings have yielded a profit of 181%.

Why Elon Musk’s Crypto Portfolio Matters

Musk’s influence on the crypto market is undeniable. His tweets have caused Bitcoin and Dogecoin price surges, and his companies’ policies have impacted institutional adoption.

Anndy Lian, an intergovernmental blockchain expert, told Techopedia:

“Tracking Elon Musk’s crypto portfolio isn’t just about following a billionaire’s investments – it’s about understanding a market-moving force that can shape the entire crypto ecosystem.”

He added:

“Musk isn’t your average investor; he’s a cultural phenomenon with the power to sway sentiment, influence prices, and even alter the trajectory of digital assets with a single tweet or public statement.”

Musk’s impact is significant because of his ability to connect crypto enthusiasts and the mainstream. Lian said: “His holdings validate the space, but they also highlight its volatility and susceptibility to external forces.”

Lian further noted that tracking Musk is essential for investors, regulators, and analysts to understand the evolving dynamics of crypto adoption and governance. He added:

“In short, Musk isn’t just a player in the market; he’s a catalyst for its transformation.”

Given the changing regulatory landscape under Trump, Musk’s future moves in crypto could further change the market.

Whether he expands his holdings beyond BTC, ETH, and DOGE or takes a stance regarding any specific crypto policy, he could significantly impact the crypto space.

The Bottom Line

There have been speculations about Musk holding various cryptocurrencies. However, he has only publicly acknowledged owning Bitcoin, Ethereum, and Dogecoin.

As the crypto market evolves under the Trump administration, Musk’s role in the space is still one to watch. Whether he shakes things up with new investments or takes a stance toward crypto-related policies, his influence on the digital asset world isn’t fading anytime soon.

Source: https://www.techopedia.com/what-crypto-does-elon-musk-own

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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Hacked Crypto Exchange BitMart Promises to Use Its Own Funds to Compensate Affected Users

Hacked Crypto Exchange BitMart Promises to Use Its Own Funds to Compensate Affected Users

Crypto trading platform BitMart said it would use its own funds to compensate users affected by a Dec. 4 hack of the platform — the cost of which it had estimated to be around $150 million, according to a series of updates posted to its website.

Blockchain security and data analytics company PeckShield, however, estimated the loss to be around $200 million.

“Total estimated loss: ~200M (~100M on @ethereum and ~96M on @BinanceChain ). (Previously we only counted the loss on @ethereum). And here is the list of affected assets/amounts on @BinanceChain,” the company tweeted.

Crypto Hack Headlines Bad for Business

Anndy Lian, chairman of BigONE Exchange and founding member of INFLUXO, told GOBankingRates that something reading like “crypto got hacked again” is never a good headline for the industry.

“I have seen many clickbait-like headlines going around to downplay cryptocurrency. The hack is a one-off situation and will act as a reminder to other exchanges to tighten their security and do regular checks for any possible exploits or vulnerabilities,” Lian said.

He added that Bitmart’s promise of paying back the affected projects and users “shows responsibilities and dedication to their clients and also sets a good example for the crypto space and the naysayers quoted in various news.”

“It is unfortunate for the hack to happen to Bitmart. I met Sheldon briefly last month when he was in town. We should all help each other and if any of the suspected transactions went into other exchanges, those who have the ability should stop and seize the culprits. This is the time we should all work together,” Lian added.

Lian’s sentiment was echoed by many in the crypto industry.

Crypto Industry Insiders Laud Bitmart Promise to Repay Affected Users

Michael Fasanello, director of training and regulatory affairs at Blockchain Intelligence Group, told GOBankingRates he was “actually impressed by that gesture of appreciation for their customers and owning the situation.”

Fasanello said that, to the best of his knowledge, this is the first instance wherein a hacked exchange has offered to make restitution to customers from the exchange’s own coffers.

“Until FDIC or a similar federal umbrella is in place, reimbursement of customers or recovery of stolen assets are the only appropriate options available to exchanges who are the victim of cyber-enabled financial crime such as hacks or ransomware attacks,” he said.

BitMart Vows to Move Forward, Make Good on Repayment Promise

BitMart said, on Dec. 4, that it had identified a large-scale security breach related to one of its ETH (Ethereum) hot wallets and one of its BSC (Binance Smart Chain) hot wallets.

“The affected ETH hot wallet and BSC hot wallet carry a small percentage of assets on BitMart and all of our other wallets are secure and unharmed. We are now conducting a thorough security review and we will post updates as we progress,” the company said at the time. “During this period, we will strive to maintain transparency and we appreciate your support. Thank you very much.”

In a subsequent post on Dec. 6, BitMart explained that the security breach was mainly caused by a stolen private key that compromised two hot wallets.

“BitMart will use our own funding to cover the incident and compensate affected users. We are also talking to multiple project teams to confirm the most reasonable solutions such as token swaps. No user assets will be harmed,” the Bitmart update claimed.

The company added that it was doing “its best” to retrieve security set-ups and their broader operation and needed time to make proper arrangements.

“The detailed timelines will be announced very soon. In addition, our CEO, Sheldon Xia, will conduct an AMA at 8PM EST Dec 6 on Telegram to share more info regarding the security breach, compensation arrangement, and how we plan to resume operation. We will strive to maintain transparency and your support to BitMart is highly appreciated,” the update read.

 

Original Source: https://finance.yahoo.com/finance/news/hacked-crypto-exchange-bitmart-promises-200038756.html

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

j j j