Is Elon Musk Finally Stepping Into The Crypto World?

It seems that the lead executive of Tesla and SpaceX, Elon Musk, who recently was in the news for supporting Dogecoins might take another run at digital assets. The CEO of Binance, Changpeng Zhao recently contacted Musk and tempted him to step into the crypto industry officially and suggested that he create a new digital asset revolving around his company SpaceX.

He stated on the social media platform:

SpaceX Coin, Elon Musk. Space exploration shall be funded globally using crypto. Investors shall have their names inked on the blockchain.

This may turn out to be a very interesting venture not only for Musk but for the planet. The very idea of crypto funded space exploration will not only bring digital assets into the mainstream territory it will also help with its popularity and spread.

Zhao said that future space expeditions can be backed by cryptocurrencies and that all respective investors could potentially have their names placed permanently on the blockchain.

For many years, crypto fans and traders everywhere have been pushing Elon Musk to join the space and get his name tied to crypto. This hasn’t always worked in Musk’s favour, considering how many fake profiles have been made of the South African entrepreneur. These profiles have later been used to try and coax people to part with their cryptocurrency stashes through phony donations.

The main reason for this could be that many people think Musk’s wealth and status put him above other celebrity figures. A man with $20 billion to his name would certainly do wonders for the industry and potentially legitimize it upfront.

A lot of Musk’s fans are requesting him to invest in cryptocurrencies like Bitcoin and Ethereum so that he can get a feel for what they’re all about. However, it doesn’t look like Musk really has any interest in crypto, and that he’s just egging people on or playing games. Recently, he also admitted that he owns very little crypto minus a small amount of bitcoin sent to him by a friend years ago. A February 2018 Twitter message from Musk commented:

I literally own zero cryptocurrencies, apart from .25 BTC that a friend sent me many years ago.

Rishma Banerjee

Rishma is currently pursuing a bachelor’s degree in International Relations and has a special place in her life for sifting through all sorts of random trivia, thank you very much.