Elon Musk’s Latest Venture: Launching a Cryptocurrency for Interplanetary Trade

Insider reveals the tech mogul Elon Musk is launching interplanetary crypto, a move anticipated by the community for years. Is this ambitious venture feasible, and when will we see the official announcement?

There Were Signs: Elon's Relationship with Crypto

From accepting BTC for purchasing Tesla to calling himself the Dogefather, Elon Musk has been historically closely intertwined with crypto. In fact, Musk can without exaggeration be one of the most influential figures in the industry, capable of surging DOGE price by more than 100% with a single tweet.

Recently, Musk posted a video linking X, formerly Twitter and now the everything app,' with his old payments company X.com, which is currently known as PayPal. Kraken exchange replied that X should integrate crypto transactions, which sparked speculation that Musk will allow users to pay with DOGE.

Elon Musk notes the circle will be complete' when X integrates payments

However, based on the Check Sales and Money Transmitters license X Payments recently received in Louisiana and a lack of the Virtual Currency Business License, the platform will not support crypto at launch.

Once, an X user asked Musk why he doesn't create his own crypto, to which Elon replied with:

Only if Doge can't do it. Big pain in the neck to create another one.Elon Musk

In light of the latest events, this tweet acquires a new meaning.

Introducing the New Interplanetary Coin

Last year, Elon Musk said on X that none of his companies would ever create a crypto token. The post served as a warning that the new XAI token had no affiliation with Musk's new AI company, xAI.

His companies, but what about himself?

However, the idea and implementation of a new cryptocurrency that will reportedly be used for interplanetary trade, appears to be coming directly from Musk.

While no evidence of Martians exists to this day, Musk plans the coin to facilitate trade between Earth and the future Martian colony after SpaceX sends 1 million settlers to the Red Planet.

Assuming the launch is successful, we can anticipate Musk's crypto to be used across other planets as well, and, at some point, even other galaxies.

Let's hope Earth supply ships don't stop coming, though

One million residents should be enough for the new Mars colony to potentially survive without any support from Earth. Still, Elon Musk's initial vision includes a seamless flow of goods between the two planets.

In this case, Musk's coin would have to address issues like communication delays because latency between Earth and Mars can range from 4 to 22 minutes.

If Musk's ambitious plans come true, his crypto coin may become the primary means of payment in our new habitat.

Circling back to Musk's 2021 tweet highlighting that he will only create new crypto if DOGE encounters unsurpassable limitations, it appears this moment has finally come and that his coin is worth the pain in the neck.'

As we await further details, insider notes Musk will officially release his new interstellar currency on April 20 (4/20), the International (Interplanetary?) Doge Day.

While the tokenomics or roadmap are still unknown, we can expect Musk to develop an entirely new blockchain that will meet the requirements of space transactions.

Is Musk's Ambitious Project Feasible?

As insider news has already sparked a frenzy on social media, users scratch their heads - is Musk's visionary project feasible? After all, we've seen him bring the most ambitious ideas to life numerous times, but Elon is also known as the master jester.

Given the announcement's date, skeptics advise taking the news with a grain of Martian soil.

Realistically, Mars colonists will likely be using a barter system with bottle caps for a while.

Happy April Fools' Day!

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