Errol Musk Aims to Raise $150 Million to $200 Million with Musk It Token
Errol Musk plans to raise between $150 million and $200 million through a digital token named Musk It. He is partnering with tech consultant Nathan Browne to fund a new think tank called the Musk Institute, focusing on engineering projects such as flying vehicles.
- The token was initially launched in December by a Middle Eastern crypto firm but gained attention after Errol Musk's endorsement.
- Musk It surged 1780% following the announcement, achieving a self-reported market capitalization of nearly $26 million, according to CoinMarketCap.
- Despite skepticism regarding its structure and potential as a "pump and dump," Browne stated their condition for involvement was to avoid quick-profit schemes.
- The Musk family history is complex; Elon Musk has publicly criticized his father while Errol defends their relationship.
- Elon Musk does not have a stake in the project but inquired about it earlier this month.
Source: CoinMarketCap