Elon Musk said Bitcoin is his largest personal holding outside his stakes in Tesla and SpaceX, but the size of that position remains unknown. At The B Word Conference on July 21, 2021, he said he personally owned Bitcoin, Ethereum and Dogecoin, with Bitcoin the largest of the three, and argued that Bitcoin’s key advantage was having “no throat to choke” because no single party could be coerced into emptying the system. He criticized traditional payment infrastructure, including one-to-five-business-day bank settlement, the ACH network and card-payment security, while acknowledging Bitcoin’s low transaction volume, high costs and limited usability. Tesla bought $1.50 billion of Bitcoin in early 2021 and converted roughly 75% of the position into cash by mid-2022, raising $936 million. Its remaining 11,509 BTC has a reported cost of $386 million and has not moved since 2022. SpaceX has disclosed the same 18,712 BTC at a $661 million cost in every filing since 2024. The value of that position was $1.75 billion at the end of 2024 and $1.10 billion in June 2026. A July test transfer prompted sale rumors, but SpaceX’s debut earnings report recorded a $539 million paper loss for the half while retaining all its Bitcoin. Tesla reported a further $334 million decline over the half. Together, the companies hold 30,221 BTC, acquired for about $1.05 billion and worth roughly $2.37 billion at a price near $78,570. The disclosures underscore Musk’s argument that no outside party can force either company to sell, while also showing that Tesla chose to reduce its position when it decided to do so.