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

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.

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 to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

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    Author

    Milko Trajcevski has been in the crypto world for years, and as such has gathered both a skill for writing as well as a native prowess when it comes to understanding everything that occurs within that world. Through skilled writing and determination, he covers articles about cryptocurrency, tokens, blockchain, crypto-asset regulations, crypto wallets, exchanges, liquidity, DApps, forks, mining, security, and blockchain technologies. He is a professional with a track record of proven expertise within the crypto space.