Elon Musk testified that most cryptocurrencies are scams, as early OpenAI ICO discussions emerged during his lawsuit against the company. Musk, a known Dogecoin fan, owns Bitcoin, Ethereum, and Dogecoin personally.
Tesla holds 11,509 Bitcoin on its balance sheet through Q1 2026, maintaining the position despite a 22% quarterly drop. The trial against OpenAI CEO Sam Altman involves Musk’s allegations of broken founding agreements, with demands for leadership removal and over $134 billion in damages.