TL;DR Breakdown
- Musk eyes a new digital currency.
- Binance CEO names the coin ‘MarsCoin’.
- No concrete plans to develop this digital asset yet.
Elon Musk’s recent conversation held on Twitter seems to suggest that Dogecoin might not be the only Martian currency when his operation to settle in Mars is substantial enough. As Tesla is considering Bitcoin as a payment option for any of their products, the firm might be looking to create a financial system suited for Mars. This cryptocurrency is in line to be referred to as ‘ElonCoin’ or ‘MarsCoin’.
MarsCoin is touted to be the major currency of Planet Mars. The CEO of Binance named it the ‘MarsCoin’ during a conversation he had with Musk recently. Elon made his intentions of launching the digital currency to be used on Mars known earlier.
The conversation began when a follower responded to Musk’s recent tweet in which he urged major DogeCoin owners to sell their Dogecoins so the coin could circulate. He went as far as saying that he would pay in dollars for some owners of Doge to sell their accounts off. His aim is to ease the clog in DogeCoin distribution because of the concentration caused by major owners. He has always been an ardent fan and promoter of the Dogecoin but the clog has made him reluctant to put both feet into Dogecoin investment.
The follower’s responded, asking Elon to create a new digital currency. He suggested that Musk could offer this new currency to the current Dogecoin owners who do not own the majority of the asset. That way, the major DogeCoin owners will not necessarily be more enriched. Afterward, he could then dedicate himself towards developing MarsCoin’s worth here on earth.
Marscoin: Maybe or Maybe not?
The comments were well received by Tesla’s CEO. His response to this was a simple “only if necessary.” Being the richest man in the world, ElonCoin would gain so much recognition in the crypto market. His ties with the fintech world would make this transition almost seamless. If this goes through. It could potentially, make Musk even richer than he currently is.
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