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Qadir AK
Qadir AK
Author
Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
- Jan 31, 2025 09:26 UTC
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Errol Musk Launches ‘Musk It’ Token to Raise $200M – Should You Buy In?
Errol Musk, Elon Musk's father, is launching a memecoin called "Musk It," aiming to raise millions, despite no involvement from Elon.
This follows a trend of celebrities, like the Trumps, leveraging memecoins, raising concerns about market manipulation and investor risk.
The "Musk It" launch, along with other celebrity-linked tokens, highlights the unregulated and speculative nature of memecoins.
The world of cryptocurrency is no stranger to the unexpected, and now it’s taken another surprising turn. Under Donald Trump 
Donald Trump Donald Trump is an American former president politician, businessman, and media personality, who served as the 45th president of the U.S. between 2017 to 2021. Trump earned a Bachelor of science in economics from the University of Pennsylvania in 1968. Trump won the 2016 presidential election as the Republican Party nominee against Democratic Party nominee Hillary Clinton while losing the popular vote. As president, Trump ordered a travel ban on citizens from several Muslim-majority countries, diverted military funding toward building a wall on the U.S.–Mexico border, and implemented a family separation policy. Trump has remained a prominent figure in the Republican Party and is considered a likely candidate for the 2024 presidential election President ‘s leadership, meme-driven coins have become a serious investment option, drawing in both traders and influential figures.
But now, it’s Errol Musk – father of Tesla CEO elon musk 
elon musk Elon Musk is a well-known entrepreneur and inventor, widely recognized for his role in founding or leading several major companies, including Tesla, SpaceX, Neuralink, and The Boring Company. He’s also known for his ambitious goals around space exploration, electric vehicles, and the future of humanity. Musk is often a polarizing figure, admired for his innovation and vision, while also drawing criticism for his management style and controversial statements. The U.S. became the primary base for Musk’s career, and the tech scene in California played a significant role in shaping his professional trajectory.
Personal Info:Organization: Ledger.Location: United States.Graduation: Musk earned two bachelor’s degrees, one from the College of Arts and Sciences in Physics and another from the Wharton School of Business. In Economics
Experience: Zip2 Corporation, Co-founder
X.com and PayPal Co-Founder & CEO
SpaceX CDEO & Chief Engineer
Tesla. Inc. CEO, Product Architect
Neuralink co-founder, CEO
The Boring Company Founder, CEO NAsales@teslamotors.com EntrepreneurInvestorChief Executive Officer 
who’s shaking the space with his own token, “Musk It.” Keep reading to find out more.
$200 Million Crypto Venture
Following in the footsteps of U.S. President Donald Trump, who both capitalized on meme coins, Errol Musk aims to raise between $150 million and $200 million through his crypto project. Although he wasn’t directly involved in creating the token, Errol has publicly backed “Musk It,” a project launched by a Middle Eastern crypto company in December.
In an interview with Fortune, Errol Musk said he had no problem using his well-known surname to support the token. After a slow start following its December launch, Errol and his business partner, Nathan Browne, chose to endorse the token, assuring people that their involvement wasn’t part of a “pump and dump” scheme.
Family Tensions: Will “Musk It” Affect Errol’s Relationship with Elon?
Errol claims to have recently spoken to Elon about the project, but representatives for both Elon and his brother Kimbal Musk have stayed silent. Neither Elon nor Kimbal is involved in the venture.
This could further strain Errol’s already complicated relationship with his son Elon. With more and more tokens being linked to famous names, concerns are growing about how these projects could disrupt the market, especially for well-known cryptocurrencies like Dogecoin (DOGE) and PEPE.
Memecoins, often lacking real use or regulation, are seen as risky and can lead to sudden losses. A recent surge in Trump-themed coins followed by a crash left investors questioning their value—especially after Trump distanced himself from the coins.
“Musk It” Lacks Clear Vision and Structure
There’s still limited information about the “Musk It” token, and many investors are unclear about its financial setup or long-term goals. Although there are rumors that the token is linked to Elon Musk, Errol insists he isn’t using his son’s name for personal gain, stating that success isn’t just tied to Elon.
Memecoins Face Legal Trouble
A proposed class-action lawsuit claims that all tokens on the Pump.fun platform—including “Musk It”—are “unregistered security memecoins.” With nearly $500 million raised by the platform, this lawsuit highlights growing concerns about how speculative tokens could disrupt the market and create uncertainty for established projects like DOGE and PEPE.
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Is the line between hype and substance getting blurred as big names back crypto projects? You tell us.
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