The ultimate mission of Elon Musk’s SpaceX is to colonize planet Mars. It is easy to get the feeling that the Tesla owner has given up on planet earth.

SpaceX intends to come up with a viable interstellar human transportation mode between extraterrestrial globes. As Musk works on launching humans to planet Mars by 2024, the price of Bitcoin has taken off like a rocket over the moon since September.

The price of Bitcoin surpassed its 2017 all-time high price in December to register a new ATH at $28,500. The catalyst to this bullish rally can be attributed to institutional adoption and backing by major payment companies such as PayPal.  

Earlier in December Musk hinted that his electric cars firm Tesla could add bitcoin to its portfolio and now claims that the economy of Mars could entirely rely on digital assets like Bitcoin. While responding to a Twitter post by popular AI researcher Lex Fridman, Musk consented that the economy of Mars will run through crypto although he did not specify.  

The crypto community is keenly paying attention to SpaceX’s CEO interest in bitcoin and cryptocurrencies. Musk has teased crypto-Twitter with various crypto memes although he revealed earlier this year that he’s neither anti-bitcoin nor pro-bitcoin earlier this year. Musk’s influence in the crypto market is so high that he once sent the price of a ridiculed ‘joke coin,’ Dogecoin, on a bull run by just referencing it on Twitter.  

Digital assets have some unique advantages. The thought of Mars pioneer’s transaction through virtual accounts rather than the traditional paper money is quite logical. It is not only unworkable to tow green bucks all the way to Mars, it is also intricate to visualize how those transactions will be harmonized. Travelers between Mars and earth will need to have accounts that are operational on both planets.  

Exchanging in crypto would require Mars settlers to have handheld gadgets like here on planet earth to carry out P2P transactions. Every person should have a virtual account to take in and hold funds as required. However, if Musk’s idea is to have a fairly small settlement where he can have pragmatic straightforward democracy, it is not uncertain why a currency would be needed. The few will likely be wealthy individuals, and they will have all kinds of luxuries they need with them. Barter trade would be the most ideal form of trade where people exchange goods for other goods or services.  

On December 1, Musk confidently reiterated that SpaceX will successfully send people to Mars before 2026 and as early as 2024, while speaking to the CEO of the German media company Axel Springer SE Mathias Döpfner. Traveling to Mars doesn’t mean the earth and its inhabitants will become forgotten. The SpaceX founder and many others are aware that a journey to Mars could hugely benefit planet earth and could be the core factor in protecting our planet from devastation. The first human crew to travel to Mars could be only four years away. 

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