Key Takeaways:
- Elon Musk allegedly liked a post hinting at quietly stacking Bitcoin.
- XRP lawyer John Deaton sees this as a bullish signal and motivation for others to buy BTC.
- Tesla and SpaceX already hold over 19,000 BTC combined, highlighting Musk’s existing exposure.
Speculation is growing in the crypto world that Elon Musk, the world’s richest man, might be discreetly accumulating Bitcoin (BTC). The rumors began after Musk allegedly liked a post on X (formerly Twitter) suggesting he’s “quietly stacking” BTC. This minor action sparked commentary from influential figures in the space, including XRP lawyer John Deaton, who believes it could be a bullish signal for Bitcoin holders and investors.
.@elonmusk is the most followed person on X – he’s well aware that even his likes are scrutinized more than most people’s posts. If the wealthiest man in the world is buying, it might be a sign to buy some. https://t.co/4jMzQwavlI
— John E Deaton (@JohnEDeaton1) July 2, 2025
John Deaton: Musk’s Actions Speak Louder Than Tweets
John Deaton, known for his role as an advocate for XRP holders, chimed in on the speculation. In a post on X, Deaton pointed out that if Elon Musk is indeed accumulating Bitcoin, others may want to take notice and consider doing the same. He emphasized that Musk’s influence is unparalleled, particularly given that he is the most followed individual on X.
Deaton also noted that Musk’s likes are scrutinized more than most people’s tweets, suggesting that this subtle signal might carry significant meaning. If Musk truly is increasing his BTC exposure, it could hint at greater long-term institutional confidence in Bitcoin.
Fueling Speculation: The Post That Started It All
The conversation began when Coinjoined Chris, CEO of Seedor, responded to a thread questioning Musk’s silence on Bitcoin while vocally criticizing government spending, particularly Donald Trump’s “One Big Beautiful Bill.” Chris speculated, “Maybe he is stacking quietly,” in response to Musk’s recent remarks on economic policy and debt.
Maybe be is stacking quietly
— Coinjoined Chris ⚡ (@coinjoined) July 2, 2025
The original thread suggested that Musk’s silence on Bitcoin — despite speaking on related economic issues — could indicate he is hiding something, adding more fuel to the speculation that he may be accumulating the asset under the radar.
Bitcoin Exposure via Tesla and SpaceX
While the rumors remain unconfirmed, Musk’s exposure to Bitcoin is not new. According to Arkham Intelligence, Tesla holds 11,509 BTC (worth about $1.2 billion), and SpaceX owns 8,285 BTC (approximately $895 million). This suggests Musk already has significant exposure to Bitcoin through his corporate ventures.
Deaton has previously predicted that Musk and Tesla could increase their BTC holdings, especially in response to controversial fiscal legislation. He called the Trump-backed debt bill a “walking billboard” for Bitcoin adoption.
Joining the chorus, Bitcoin advocate Samson Mow encouraged Elon Musk to take Bitcoin support a step further by allowing Tesla and SpaceX to accept BTC payments. Mow framed it as a proactive move amid increasing governmental scrutiny of Musk’s finances and political commentary.
Also Read: Elon Musk Clarifies D.O.G.E. Agency Has No Ties to Dogecoin Amid Crypto Speculation
While nothing is confirmed, Elon Musk’s alleged interest in quietly stacking Bitcoin has sparked optimism among crypto advocates. Influential voices like John Deaton see this as not only a potential catalyst for price growth but also an endorsement of Bitcoin as a hedge against economic instability.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
