What cryptocurrencies does Elon Musk recommend investing in?

Elon Musk and cryptocurrency are inextricably linked 🔗. The technology tycoon does not hide his interest in the topic of digital assets. He often influences the movement of their quotes through his actions. Mostly they move up.

At the same time, no one knows exactly 🤷‍♂️ what cryptocurrency Elon Musk has. Sometimes he hints at his assets and talks about the most promising tokens. Therefore, Rating Forex has collected basic information about the digital assets with which the billionaire is more or less associated.

🏅 Your goal is to earn as much as Elon Musk 👑? The easiest way to make money on Bitcoin, altcoins is to get a consultation online with cryptanalysts Rating Forex 💪. Find out what Elon Musk is investing in and what strategy makes him the king 💎. We will explain for free which tokens he chooses and how he finds those that will definitely work 🚀.

What cryptocurrencies did Elon Musk invest in 🕵️‍♀️

In July 2021, at The World conference, Musk said: he supports BTC. One of the posts on X (formerly Twitter) features his briefcase. In addition to the first crypt of the world, it includes:

• 🍋 Ethereum.
• 🍋 Dogecoin.

There were rumors: Elon owns the Shiba Inu cryptocurrency. This conclusion was made when the creator of Tesla published an image of a Shiba Inu dog.

🏅 As it became known later, the conclusion was incorrect. Musk does have Shiba Inu tokens. But there are only 3 of them.

Some analysts and Internet users believe that Elon Musk’s list of cryptocurrencies includes (may include in the future) the following coins:

• 💵 Wall Street Memes.
• 💵 Scotty AI.
• 💵 Ecoterra.
• 💵 Tamadoge.
• 💵 Dogecoin20.

Although there is no exact information about what exactly this crypto is included in Elon Musk’s investment portfolio, let’s look at it in more detail and evaluate the prospects ⚖️.

Elon Musk and Bitcoin

After a recent update to Musk’s biography on social network X, a mention of BTC appeared there. Later, the Tesla brand reported investments in the main cryptocurrency of the world for $1.5 billion. He said: he will accept bitcoin as payment for his cars 🚗.

On that moment Elon Musk thought about Bitcoin exclusively in a positive context. His company would still be accepting BTC if it weren’t for the environmental problems 🌍 that mining this cryptocurrency causes.

Although Elon Musk spoke strictly positively about Bitcoin, at the end of 2021 the auto brand he managed sold 4,000 coins, and in 2022 sold the remaining ¾ of all BTC he bought 💸.

🏅 At the beginning of 2024, Tesla had about 10,000 BTC left in its portfolio. This makes the company third in terms of volume 3️⃣ public owner of the world’s first cryptocurrency.

Dogecoin

Back in 2019 Mask gave a positive forecast for the Dogecoin cryptocurrency. He said: it will become his favorite token ❤️.

In 2021, Elon published an image of Falcone 9 🚀. The rocket had DOGE on it. This led to another jump in the price of the coin.

Later, Musk called the coin a hype coin. In response, it depreciated by 28%. In 2022, DOGE began to be accepted as payment for Tesla cars. The token price went up again. At the moment he added 24%. A month later, accepting payments in meme crypt stopped ⛔.

In 2023, Musk made DOGE the logo of the social network Twitter he purchased. This event pushed its price up again. This time the increase was 20%. Capitalization reached $13 billion. This made the coin the 8th largest.

🏅 The new logo only lasted 4 days. The blue bird returned to the nest. The result was a collapse in the DOGE price to 9.5%.

Ethereum

At The World 2021, Musk expressed support not only for Bitcoin, but also for Ethereum. This led to a 12% increase in the price of the coin.

🏅 Musk is very effective at manipulating public opinion to extract soot. With his statements, he shakes the market, which is how he makes money.

Wall Street Memes

One of the coins that many are calling Elon Musk’s new potential cryptocurrency is Wall Street Memes. She attracted attention in 2023. 

The token does not provide any particular economic benefit or value. This is just a reminder that Americans often make money on the most useless papers through hype and other manipulations.

As a result, Wall Street Memes began to attract investors. Its community size exceeds 1 million people.

Scotty AI

Although Musk is against artificial intelligence, as he has stated more than once, the Scotty AI coin may still end up in his investment portfolio 💼. The token is part of a platform aimed at improving trading efficiency. AI stores and analyzes historical data, offering a lot of useful information to investors 📝.

One of the advantages of Scotty AI cryptocurrency is its support for staking. It will generate passive income. The token has already undergone a public launch and can be found on exchanges. All funds raised from the sale are used to support the community and the market 🤝.

Ecoterra

Another potential new addition to Musk’s wallet is Ecoterra 👛. This cryptocurrency is part of a project based on the “reward for processing” system. This is an eco-initiative.

Ecoterra developers, in partnership with such giants as Delhaize, offer to receive a coin for recycling glass, cardboard, paper, plastic, cans, and clothing.

The Ecoterra ecosystem aims to help businesses better track their environmental footprint 🔎👣. Tokens are also used to buy recyclable materials. They already have several green uses.

🏅 Ecoterra received $3.7 million in pre-sales. This is far from the limit.

Tamadoge

The Tamadoge cryptocurrency is called the successor to DOGE. The latter does not please with stability and loses its attractiveness. Therefore, investors are looking for alternatives 🕵️‍♀️. In 10 days of sales, the TAMA token managed to attract more than $250,000.

Cryptocurrency has no deflationary restrictions. That is, it can be accumulated in any quantity. This will not impact your income.

🏅 Rumor has it: Musk participated in the Tamadoge presale. Was among the secret investors. Anyone can buy a coin. There are no restrictions. They were allowed to presale even with $10.

Dogecoin20

Another dog cryptocurrency meme is Dogecoin20. The token is based on the staking function. It gives owners the chance to earn rewards for 2 years of ownership.

🏅 At the presale, Dogecoin20 raised $3.6 million. Over 8 stages, it rose in price to $0.000202.

The creators of the token were inspired by DOGE. They believe he has a chance to repeat his fate.

Only DOGE is greener and works using the proof-of-stake protocol. It also circulates on one of the largest blockchains – Ethereum. This makes it convenient and liquid ✅. The coin has a release limit, which minimizes the risk of deflation.

How Elon Musk influences cryptocurrencies

Musk makes a lot of statements about digital currencies. His words affect not only DOGE quotes, but also move BTC and ETH in different directions. At one time Elon said how much he supports them 💪. Then he called them overrated. Because of this, coins rose and fell in value.

It is highly likely that the billionaire is simply speculating. He has enormous influence. Therefore, he can create local drawdowns and upswings in order to make a profit 💰.

Musk is well known for making scandalous and controversial statements on completely different occasions. His words help traders make money. Every time Elon opens his mouth on his social network or at conferences, you can be guaranteed to expect an up or down movement of certain coins.

🏅 Most traders directly follow Musk’s recommendations. That is, it is easy to predict the direction of the market. You can make great money from this.

Conclusions, advice

Rumor has it: Musk is fed up with Bitcoin. The reason is that it is difficult for them to speculate. Now Elon’s statements do not move the value of the coin so much. This means that he can switch to other tokens. This moment cannot be missed.

Following Musk’s statements, it is important to be very careful. It is not on this alone that the cryptocurrency market rests. There are other major players who can also speak out.

When making transactions, insure your risks. Don’t invest too much in speculation.