Musk's Decentralized Dream: Tesla and SpaceX Bet Big on Bitcoin
A five-year-old remark by Elon Musk on the decentralized nature of Bitcoin has resurfaced as the cryptocurrency trades near $78,200.
Musk argued in 2021 that the network's greatest defense was having 'no throat to choke,' describing a system without one operator whom governments or attackers can pressure into shutting it down.
The phrase refers to the lack of central control over the Bitcoin protocol, which is maintained by independent nodes and miners across jurisdictions. This structure limits coercion across the global protocol itself.
Tesla and SpaceX, both companies founded by Musk, hold a combined 30,221 BTC, bought for about $1.05 billion and worth roughly $2.36 billion at market prices. While Tesla sold most of its original purchase, converting approximately 75% of its Bitcoin holdings into cash during 2022, SpaceX retained its disclosed units.