Errol Musk: Crypto is the future; Musk family holds 23,400 BTC

Errol Musk, a 79-year-old South African engineer and the father of Elon and Kimbal Musk, told an interviewer that cryptocurrency is the future of finance and that his sons together hold 23,400 bitcoins.

He described the traditional banking model as “finished” and called cryptocurrency “the new form of money management.” He said faster cross-border transfers are a primary advantage and contrasted them with slow bank processes.

Errol gave a personal example of moving money from the United States to South Africa. He said banks made the transfer nearly impossible, while contacts who use crypto completed similar transfers immediately.

He said he has met several industry figures and has received payments in digital assets that bypassed conventional banks. Errol recounted receiving Solana tokens in a past transaction, saying the tokens were worth more at the time and were sold near a peak.

Errol said he does not currently hold digital assets and described himself as “old-fashioned,” adding that he still uses a bank card and would like to learn more. “What I know about it is small, but it’s a big thing,” he remarked.

On family holdings, Errol reported that Elon and Kimbal hold 23,400 bitcoins together. Company disclosures show Tesla holds 11,509 BTC and SpaceX holds 8,285 BTC. Errol did not specify how the 23,400 figure is divided between personal and corporate positions.

The comments provide a public statement from a close family member about the Musk family’s exposure to cryptocurrency and include his account of using crypto to move funds across borders.