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Elon Musk's Father Launches 'Musk It' Meme Coin To Fund New Think Tank

  • Errol Musk has launched the "Musk It" meme coin to raise $150 to $200 million for the Musk Institute, a think tank focused on technological advancements.
  • The "Musk It" token, launched in December by a Middle Eastern crypto firm, has increased over 500% in value since its release.
  • Experts warn that meme coins can lead to "pump and dump" schemes, posing risks to investors and the crypto industry.
  • Errol Musk stated, "I'm the head of the family. It really started with me in our family—I've been 'Musking It' for years.
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Benzinga broke the news in New York, United States on Friday, January 31, 2025.
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