Elon Musk: Mars Will Have its Own Crypto, But it’s Not Dogecoin

By now, the Dogecoin – Elon Musk relationship is solidly planted in the cryptoverse.

By now, the Dogecoin – Elon Musk relationship is a solid fixture of the cryptoverse, especially in light of the interview he gave after his reveal as TIME Magazine’s 2021 Person of the Year, during which Musk explained why, in his opinion, Dogecoin is better than Bitcoin.

After announcing that his electric vehicle manufacturing company, Tesla, would accept DOGE as payment for merchandise, the meme coin experienced one of its biggest rallies of recent times.

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Regardless of his unquestionable support for Dogecoin, during a podcast appearance with Lex Friedman, Elon Musk revealed that DOGE cannot be the official currency of Mars – much to the dismay of many.

Excited about the impending migration of humans to Mars, Musk explained that Martian laws and civilizations will not be subject to rules present in countries on Earth.

When asked if Dogecoin would turn out to be the official currency on Mars, Musk explained that it would be impossible. However, he believes that Mars, when colonized, will in fact have its own cryptocurrency.

According to Musk, synchronizing Dogecoin between Earth and Mars would be impossible due to the speed of light. With Mars being roughly 20 light minutes away, he believes that “it is not going to synchronize properly.”

On the Flipside

  • Since Elon Musk tweeted Santa Floki on December 25th, a meme coin by the same name soared by more than 18,840%.

Why You Should Care

Dogecoin has come a long way since its debut as a Bitcoin joke. From its origins as a meme coin, Doge is now raised in topics regarding the future of finance and human civilization.

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This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Milko Trajcevski

Milko Trajcevski is a DailyCoin news reporter, mainly focused on Ethereum (ETH), Cardano (ADA), and their founders (Vitalik Buterin and Charles Hoskinson). Milko is an avid follower of crypto and blockchain technology and has written thousands of articles on the subjects. He finds joy in transforming complex issues into written content that anyone can understand. Milko has used and analyzed numerous exchanges, such as Coinbase, FTX, and Binance. He also closely follows all of the latest news around the largest decentralized exchanges (DEXs). Location: Skopje, Macedonia