{"id":623177,"date":"2025-01-31T14:53:32","date_gmt":"2025-01-31T14:53:32","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=623177"},"modified":"2025-01-31T14:53:32","modified_gmt":"2025-01-31T14:53:32","slug":"elon-musks-dad-seeks-200-million-for-think-tank-via-musk-it-meme-coin-thats-soared-512","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/elon-musks-dad-seeks-200-million-for-think-tank-via-musk-it-meme-coin-thats-soared-512","title":{"rendered":"Elon Musk&#8217;s Dad Seeks $200 Million For Think Tank Via \u201cMusk It\u201d Meme Coin That&#8217;s Soared 512%"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Errol Musk, the father of Tesla and SpaceX founder Elon Musk, is backing a meme coin project by the name of &ldquo;Musk It&rdquo; to raise $150 million to $200 million for the launch of a for-profit think tank called the Musk Institute.<\/span><\/p>\n<p>That&rsquo;s according to report in <a href=\"https:\/\/fortune.com\/crypto\/2025\/01\/30\/errol-musk-memecoin-elon-tesla-donald-trump-crypto\/\"><span style=\"font-weight: 400;\">Fortune<\/span><\/a><span style=\"font-weight: 400;\"> that&rsquo;s based on an interview with Errol Musk and his business partner, Nathan Browne.&nbsp;<\/span><\/p>\n<p>The Musk It meme coin surged 512% in the past 24 hours to reach a market capitalization of $66 million after news of the endorsement by Errol Musk broke.<\/p>\n<p>It&rsquo;s trading at $0.06902 as of 9.27 a.m. EST, 28% below it&rsquo;s all-time high reached earlier in the period, <a href=\"https:\/\/www.coingecko.com\/en\/coins\/musk-it\">according to CoinGecko<\/a>.<\/p>\n<p><span style=\"font-weight: 400;\">Errol Musk and his business partner are not the creators of the Musk It token, which was quietly launched by a Middle East-based company last month.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Musk, who has a strained relationship with his billionaire son and other members of his family, also said <\/span><a href=\"https:\/\/insidebitcoins.com\/news\/elon-musk-comments-boosts-ross-ulbricht-pardon-odds-to-95-on-polymarket\"><span style=\"font-weight: 400;\">Elon Musk<\/span><\/a><span style=\"font-weight: 400;\"> is not associated with the project in any capacity.<\/span><\/p>\n<p><img decoding=\"async\" class=\"alignnone\" src=\"https:\/\/img.huffingtonpost.com\/asset\/62d172e3210000e79f5f01d7.jpeg?cache=bzpYdm1zQM&amp;ops=1778_1000\" alt=\"Errol Musk\" width=\"1778\" height=\"1000\"><\/p>\n<h2><span style=\"font-weight: 400;\">Errol Musk Says New Institute Will &ldquo;Go Beyond Rockets&rdquo;<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The planned Musk Institute would collaborate with nobility in the United Arab Emirates (UAE) to foster an array of innovative engineering projects, and <\/span><span style=\"font-weight: 400;\">Errol Musk said it will &ldquo;go beyond rockets&rdquo; and build flying vehicles as well as pursue other scientific endeavors.&nbsp;<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Errol ran out of money in the 90&rsquo;s. My brother &amp; I financially supported him &amp; his extended family in South Africa since then on condition that he not do bad things. Unfortunately, he did do bad things &#128577;<\/p>\n<p>&mdash; Elon Musk (@elonmusk) <a href=\"https:\/\/twitter.com\/elonmusk\/status\/1572595710528262160?ref_src=twsrc%5Etfw\">September 21, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">He dismissed any concerns about leveraging his surname for the project, telling Fortune that he has been &ldquo;&lsquo;Musking It&rsquo; for years.&rdquo; He said that he is the &ldquo;head of the family,&rdquo; and also added that he is the original innovator in the family.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Related Articles:<\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/insidebitcoins.com\/news\/ecb-president-christine-lagarde-rejects-bitcoin-as-reserve-asset-but-czech-national-bank-didnt-get-the-memo\"><span style=\"font-weight: 400;\">ECB President Christine Lagarde Rejects Bitcoin 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                      \n            \n","protected":false},"excerpt":{"rendered":"<div class=\"fin-excerpt\">Errol Musk, the father of Tesla and SpaceX founder Elon Musk, is backing a meme coin project by the name of \u201cMusk It\u201d to raise <a class=\"read-more-link\" href=\"https:\/\/insidebitcoins.com\/in-content-providers\/a-default-box\" title=\"A Default Box\">[&#8230;]<\/a><\/div>","protected":false},"author":1954,"featured_media":623180,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[7596],"tags":[],"class_list":["post-623177","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.8 (Yoast SEO v23.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Errol Musk Backs New 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