Errol Musk, father of Tesla CEO Elon Musk and Kimbal Musk, has disclosed that both his billionaire sons hold approximately $1.6 billion worth of Bitcoin in their private wallets—a revelation made as the SpaceX CEO continues to keep his exact crypto holdings confidential. The 79-year-old South African engineer further stated that cryptocurrencies are poised to become the new normal in global finance, echoing his son Elon's belief that digital assets will eventually reshape the world's financial order.

Does Elon Musk’s Father Own Bitcoin?

Despite being confident in Bitcoin’s prospects, the 79-year-old confirmed that he does not own any cryptocurrencies. He added that crypto is afor cross-border transactions without requiring banks to be intermediaries for payments.

However, Elon Musk’s father confirmed that he has personally met former Binance CEO CZ and the founder of Bybit, Ben Zhou, and received crypto payments in Bitcoin outside of traditional banking channels. He stressed that these were payments only and not for investment purposes. Therefore, he does not own any cryptocurrencies but has used them for payments only.