Article by Brian McGleenon February 16, 2021 (express.co.uk)
• The digital currency known as ‘Dogecoin’ is similar to the more famous, and lucrative, ‘Bitcoin’. Dodgecoin, which was created in 2013, has long traded for less than one cent. Implying that the digital currency field had “too much concentration”, the Tesla and SpaceX mogul, Elon Musk offered via Twitter to pay major Dodgecoin holders real money to to simply void their account.
• Then, the founder of currency trading platform Binance tweeted an idea: “Develop a new ElonCoin. Offer them to the existing non-major dogecoin holders to void their wallet. You wouldn’t need to pay dollars to make those majors dogecoin holders richer than they already are and allocate your time and support to make the ElonCoin the (new) currency of the Earth.” “Maybe call it MarsCoin? Musk tweeted back what could be the seed of the world’s first extra-terrestrial currency: “There will definitely be a MarsCoin!”
• Musk needs to be careful about making statements that could manipulate market prices. As CEO of a traded company, Musk’s statements are regulated to ensure investors have equal access to news that can significantly affect share prices. Cryptocurrencies, however, are not regulated in the same way as normal company shares and would fall outside the current rules against market manipulation, regardless of whether he owns the cryptocurrency or not.
ELON Musk announced today on Twitter a plan for new digital currency, tweeting, “there will definitely be a MarsCoin!”
The CEO of SpaceX and Tesla made the claim in a Twitter thread about dogecoin. Mr Musk tweeted: “If major dogecoin holders sell most of their coins, it will get my full support. Too much concentration is the only real issue.
“I will literally pay actual $ if they just void their accounts.”
Then one follower of Mr Musk tweeted an idea: “Develop a new ElonCoin.
“Offer them to the existing non-major dogecoin holders to void their wallet.
“You wouldn’t need to pay dollars to make those majors dogecoin holders richer than they already are and allocate your time and support to make the ElonCoin the currency of the Earth.”
It was the founder of currency trading platform Binance that then postulated the idea, “Maybe call it MarsCoin?
It was then that Mr Musk came back with what could be the seedling of the world’s first extra-terrestrial currency.
He tweeted: “There will definitely be a MarsCoin!”
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