Elon Musk claims that SpaceX has purchased Bitcoin and that he personally owns Ethereum and Dogecoin.

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Elon Musk announced that his aerospace technology company SpaceX had invested in Bitcoin during an online conference called 'The B Word.'

Elon Musk
Elon Musk

He revealed that he also owns Ethereum and Dogecoin, saying, "I do own Bitcoin, Tesla owns Bitcoin, SpaceX owns Bitcoin." He didn't indicate how much he or his firms have invested, but he did say that he has a lot more Bitcoin than Dogecoin or Ethereum.

The Crypto Council for Innovation, a consortium of financial services companies with assets in the field, is hosting the event.

Musk also said he’s “a fan of” decentralized finance—an umbrella term for a certain class of money management programs for cryptocurrency. Most protocols and exchanges under the heading of decentralized finance are built on the Ethereum network; “I think it makes sense,” added Musk.

Musk further admitted that promoting Bitcoin benefits him because he is personally invested: “If the price of Bitcoin falls, I lose money.” “I pump, but I don't dump,” he explained.