Errol Musk launches ‘Musk It’ crypto coin to fund think tank, defying son Elon’s stance on crypto

Kumar Shivam | Feb 01, 2025, 00:16 IST
Errol Musk denies Elon Musk unhappy childhood claims
( Image credit : TOIGLOBAL )
Errol Musk, Elon Musk’s father, is launching a cryptocurrency memecoin called "Musk It" to fund his think tank, the Musk Institute, which aims to advance scientific and engineering research. Despite Elon’s opposition to crypto, Errol remains unfazed, claiming he’s the "head of the family." The project hopes to raise $150-$200 million but lacks clear "tokenomics."
Elon Musk’s father, Errol Musk, has announced plans to launch a cryptocurrency memecoin called "Musk It," despite his son’s well-known opposition to crypto ventures, according to a report.

"Musk It" Coin Launch

Errol Musk revealed that the digital token, "Musk It," will be used to fund his latest project, a think tank called the Musk Institute, which aims to advance scientific and engineering research. Errol, along with business partner Nathan Browne, hopes to raise between $150 million and $200 million through the token. However, the project's "tokenomics"—the fundamental structure of the coin—remains unclear.

Father-Son Dynamics

While Elon Musk has been openly critical of cryptocurrency, especially involving his name, Errol seems unbothered by the potential conflict. In an interview with Fortune, Errol boldly stated, "I’m the head of the family" and added, "It really started with me in our family—I’ve been 'Musking It' for years."

The father-son relationship has been historically strained, with Elon previously describing his father as a "terrible human being" and sharing painful memories of his childhood. However, Errol denied these allegations, asserting that their relationship has improved, citing a recent interaction where Elon praised his father’s engineering expertise at a SpaceX launch.

Elon’s Position on "Musk It"

Despite the project’s reliance on the Musk name, Browne rejected the notion that Elon’s endorsement was essential for its success. He told Fortune, "If anyone is relying on Elon to endorse or contribute, then I think they’re missing the point."

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