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Will Elon Musk Use Crypto to Power SpaceX?


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Following rumors that Elon Musk was going to serve as the new CEO of Dogecoin, a cryptocurrency inspired by a joke, it appears the head executive of Tesla and SpaceX may take another run at digital currency.

Elon Musk: Bringing Space and Crypto Together?

Recently, Musk was contacted by Binance CEO Changpeng Zhao on Twitter. Known as the “Mark Zuckerberg” of crypto, Zhao tempted Musk to step into the crypto space 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 would be a very interesting venture not only for Musk, but for the planet. The idea of space exploration being funded by cryptocurrency would not only bring digital assets into full mainstream territory; think of the respect and attention they would earn, and the many investors that would likely flock to the digital arena.

This was the idea of Zhao, who 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 favor, 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 primary reason 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.

Many are just asking him to purchase cryptocurrencies such as 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 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.

What Game Is Musk Playing?

From time to time, Musk is known to speak to or engage with various cryptocurrency industry leaders, such as Vitalik Buterin, the co-founder of bitcoin’s biggest competitor Ethereum. Buterin hit back at Musk, stating 13 reasons as to what the Ethereum blockchain could potentially do for him and for Tesla.

In February of this year, Musk praised bitcoin on social media and referred to its structure as “quite brilliant.”

Nick Marinoff
Nick Marinoffhttps://www.livebitcoinnews.com/
Nick Marinoff is currently a lead news writer and editor for Money & Tech, a San Francisco-based broadcasting station that reports on all things digital currency-related. He has also written for a number of other online and print publications including Black Impact Magazine, EKT Interactive, Seal Beach USA and Benzinga.com, to name a few. He has recently published his first e-book "Take a 'Loan' Off Your Shoulders: 14 Simple Tricks for Graduating Debt Free" now available on Amazon. He is excited about the potential digital currency offers, particularly its ability to finance unbanked populations and bring nations together financially.


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