Errol Musk, father of Elon Musk – the founder of Tesla and SpaceX – asserts without a doubt that crypto will be the future of finance.
In an exclusive interview with BeInCrypto's editor-in-chief, Vladimir Arkhirysky, the South African engineer called the old financial model "over." His statement coincided with the disclosure of the amount of Bitcoin (BTC) his sons hold, as well as his own personal experience with crypto payments.
Elon Musk's father supports crypto.
Errol Musk seems very confident about the future direction of global finance.
“I have absolutely no doubt that crypto will be the future of finance. The old model is over, finished,” he said. “The new way of managing money is clearly crypto.”
This 79-year-old engineer bases his belief on personal experience. He Chia that transferring money internationally through banks is almost "impossible," while transactions via crypto happen almost instantly.
“This is a great way to transfer money. For example, if I’m in South Africa and want to send money from the US back to Vietnam via bank transfer, it’s almost impossible. Banks make everything so complicated. But if I ask friends who use crypto, they do it right away, no problem,” Errol told BeInCrypto.
He stated that he had met Changpeng “CZ” Zhao, the founder of Binance , and also the founder of Bybit. Furthermore, he had received crypto directly, completely bypassing traditional banks.
Despite his belief in crypto, Errol admits he doesn't currently own any digital assets. He describes himself as "old-fashioned," but is also keen to learn more about crypto.
“I know very little about crypto, but it’s a huge thing. I’m still old-fashioned, still using bank cards,” he added. “I’m not an expert, but it’s clearly a very interesting field.”
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Inside the Musk family's crypto investment activities.
Errol also rarely reveals details about the Musk family's crypto investments.
"People might find this number very large. Elon and Kimbal – my two sons – currently hold 23,400 Bitcoin," he said.
If that's true, it's a remarkable number. According to the latest data from BitcoinTreasuries, Elon Musk's electric vehicle company, Tesla, holds 11,509 BTC, ranking 12th among publicly listed companies with the most Bitcoin. Additionally, SpaceX currently holds 8,285 Bitcoin.
This family has also received payments in other Token . Errol revealed that they once received money in Solana (SOL), an amount he described as "a little over 1 million rubles."
"Receiving payments in crypto felt really strange to me. Back then, we received Solana, which was very expensive at the time, and we sold it at the peak," he Chia .
Errol Musk is a South African engineer, pilot, and businessman. Born in 1946, he is the father of Elon Musk, the founder of Tesla and SpaceX, and Kimbal Musk, an entrepreneur and philanthropist.
In the early stages of his career, he worked in real estate, electrical engineering, and participated in numerous large and small mining projects across Africa. Errol is also known for his frankness, readily Chia his views on his children's achievements and global trends.
