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Elon Musk’s $1 trillion pay deal with Tesla sparked a coin frenzy, with many Musk-themed tokens flooding the market within hours of its board’s approval.
New tokens such as “TRILLIONS,” “Elon’s $1,” and “MUSK” have been launched on Solana, Ethereum, and BNB Chain, according to DEXTools. Multiple versions of TRILLIONS surged several hundred percent after launch, with combined trading volumes exceeding $20 billion.
Many new coins crashed shortly after launch as creators withdrew liquidity in apparent exit scams.
Musk obtains historic compensation
More than 75% of Tesla shareholders have agreed to give Musk, already the world’s richest person, stock worth nearly $1 trillion if the company meets ambitious financial and operational goals over the next decade. If he got paid, it would likely make him the world’s first billionaire.
The compensation package will be divided into 12 tranches of Tesla shares, with one milestone being that Tesla’s market capitalization will reach $8.5 trillion in the coming years.
Tesla’s board and Musk have emphasized that the compensation package is critical to retaining Musk’s leadership as the company transitions from an electric vehicle maker to an AI and robotics company.
This $8.5 trillion capitalization target is more than six times the company’s current market capitalization of around $1.4 trillion, according to Google Finance.
Tesla stock price (Source: Google Finance)
Tesla stock fell more than 3% yesterday, but is up more than 1% in premarket trading.
Elon Musk Frequently Impacts Coin Trading
Elon Musk’s influence on meme coins is not new. The billionaire has helped shape market sentiment for years with his comments, tweets and corporate decisions.
Nicknamed the “DOGE-Father,” Musk helped propel Dogecoin to mainstream fame with his frequent endorsements.
More recently, he has focused on Bitcoin, with Tesla and SpaceX holding crypto as part of their treasury strategies.
Tesla ranks 12th among holding companies with 11,509 BTC worth approximately $1.16 billion at current prices, giving the company an unrealized gain of over 200%, according to Bitcoin Treasuries.
Tesla BTC holdings (Source: Bitcoin Treasures)
Musk continues to defend the principles of Bitcoin. In The Joe Rogan Experience, he revealed that X Chat, a new encrypted messaging system for his social media platform X, uses a peer-to-peer framework that is “kind of similar to Bitcoin.”
Last month, he posted that Bitcoin’s energy foundation makes it “particularly reliable” compared to fiat currency, later responding with the “100” emoji to a user who said Dogecoin shared the same quality.
TRUE.
This is why Bitcoin is based on energy: you can issue fake fiat currencies, and every government in history has done that, but it is impossible to simulate energy.
– Elon Musk (@elonmusk) October 14, 2025
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