Errol Musk — the father of world's richest person Elon Musk — is planning to raise $200 million with the Musk It (MUSKIT) memecoin.

Errol Musk and his business partner Nathan Browne plan to raise between $150 million and $200 million from a token project called “Musk It.”

Errol Musk hopes to raise as much as $200 million for a planned for-profit think tank using proceeds from the cryptocurrency.

Errol Musk said the coin, the price of which has surged in the past 24 hours, would fund a new academic institute in Dubai.

Memecoins have once again captured the crypto world’s attention, but this time it’s not Elon Musk making headlines—it’s his father, Errol Musk. The 77-year-old has endorsed “Musk It,” a meme-based cryptocurrency that aims to raise between $150 million and $200 million.

Errol Musk, father of billionaire Elon Musk, is diving into the memecoin craze. He aims to raise $200 million for a for-profit think tank through