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Breaking News / Cryptocoins

Is Elon Musk About To Launch A Cryptocurrency?

A few days ago, Elon Musk began to upload a thread of tweets through which he describes himself setting up a ‘candy company’. With a similar bearing to fictitious entrepreneur Willy Wonka, Musk is known for his elaborate business ideas and grasp on innovation.

South African born Musk is the founder, CEO and lead designer of SpaceX, a private American aerospace manufacturer, the co-founder and CEO of Tesla, the American electronic vehicle and energy storage company and is the co-founder and CEO of Neuralink, an American based company striving to produce physical computer to brain interfaces.

With all this in mind, you could say he has a strong belief in the potential of technology, design and innovation.

According to Forbes, Musk is the 53rd richest person in the world, with an estimated net worth of around $19.6Billion.

With his clear inspirations riding in technology and as an advocate for cryptocurrencies and blockchain technologies, it wouldn’t be wrong to assume that the tweets by Musk could exist not as a story about a plan for Musk to build a candy empire, but moreover, these tweets could exist as a metaphor for a cryptocurrency.

Of course, you would assume deducing this conclusion could only come from really reading between the lines, so to speak, however, one of the final tweets in Musk’s thread, sort of brings that idea back home.

Does this simple tweet – ‘Cryptocandy’ mean that Elon Musk is about to kickstart his own, sweet, cryptocurrency business? He’s certainly got the financial backing, so, really, what’s stopping him?

Okay, of course, many of you will know that these tweets originate from a battle between Elon Musk and Warren Buffett, who in turn has recently referred to cryptocurrencies as poisonous, with the latter being known as a person very much against cryptocurrencies.

So, perhaps here, this is just Musk using his quirky personality to troll Buffett online?

If you’re interested, Fortune have uploaded quite an interesting account of Musk and Buffett’s interaction, you can see it for yourself, here- http://fortune.com/2018/05/05/warren-buffett-elon-musk-trolling-sees-candies-moats/

What does this really mean?

Is Elon Musk about to launch a cryptocurrency? Probably not?

Could Elon Musk in theory set up a cryptocurrency, does he have the knowledge, skills and financial backing? Yes, certainly.

Either way, the idea of a Tesla backed cryptocurrency or something similar does provide the industry with a lot of hope and realistically, it is something we could see one day. Should Musk take on such a venture, it is more likely to coincide with Tesla or SpaceX and remain at the fore of innovation, therefore, it is far less likely to have any involvement with sweets, candy or indeed Willy Wonka’s chocolate factory. Or maybe, it’ll be a space themed blockchain powered sweet, who knows?

Featured Image Original Source: Wikipedia Commons


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Robert is a keen investor with a particular interest in cryptocurrencies. He has been involved in the industry for many years, and because of this, has gathered a lot of knowledge surrounding this area. He studied English at university level and has a passion for writing. He loves being able to combine his two mains interests on a daily basis.