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Elon Musk: “There will definitely be a MarsCoin”

2 mins
Updated by Ryan Smith
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In Brief

  • The Tesla CEO continues to criticize Dogecoin (DOGE) centralization.
  • Elon Musk says MarsCoin will certainly exist.
  • A mystery "MarsCoin" has pumped by over 300% following Musk’s tweet.
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Elon Musk seems to be preparing for the financial future of Mars. On Feb 16, he affirmed via Twitter that there would indeed be a MarsCoin.

Bitcoin (BTC) convert and the world’s richest man, Elon Musk, confirmed that crypto would be coming to Mars. He tweeted this in response to Binance CEO Changpeng Zhao. 

Elon Musk is an admirer and advocate of the meme-inspired Dogecoin (DOGE). He recently pointed out that the just-for-fun digital asset is too concentrated. In fact, he said he would pay to void the accounts of major dogecoin holders. 

A Twitter user offered a solution to Musk’s concern. He said that Elon Musk should create a new coin called Elon Coin. This coin will be distributed to non-major DOGE holders.

Zhao joined the conversation and requested that this new initiative be named “MarsCoin.” Musk liked the idea, saying, “There will definitely be a MarsCoin!”

MarsCoin to Fuel Mars Economy?

Many cryptocurrency enthusiasts have linked the proposed cryptocurrency to his aerospace manufacturer, SpaceX. The company intends to colonize mars by reducing space transportation costs. 

Musk confirmed that the Mars economy would run on cryptocurrency in response to a thread by AI scientist Lex Fridman. Perhaps this lends further credence to a very ambitious claim? 

Musk is passionate about creating a “self-sustaining city” on Mars. The tech billionaire plans to send his first SpaceX aircraft to mars in 2022 and humans between 2026 and 2028. 

He recently threw his weight into the cryptocurrency markets and was previously a renowned critic. His electric vehicle company, Tesla, has joined the growing list of institutional bitcoin investors. It announced a $1.5 billion bitcoin investment through an SEC filing.

Mystery “MarsCoin” Pumps Due to Musk’s Tweet

Cryptocurrency enthusiasts are often on the lookout for Musk’s tweets. Embracing bitcoin has made him very influential in the markets. Musk has pumped dogecoin on several occasions. 

His latest tweet has sent an already-listed “MarsCoin” on a wild ride in the last 24 hours. Its 24-hour trading volume has increased by over 3,000%.

It’s unclear yet if Zhao and Musk are aware of its existence. If it isn’t the proposed coin, then Musk may have to keep his options open. 

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