Coin Marketing Musk Statue Created with 800 Million Won Investment

Creators Named After Musk Launch Cryptocurrency 'Elon GOAT'
Statue Made to Promote Cryptocurrency, Aiming for Musk's 'Like' Approval

Elon Musk sculpture created by cryptocurrency 'Elon GOAT' entrepreneurs. Photo by Yonhap News

[Asia Economy Reporter Kim Hyunjung] 'Is this a gift or an eyesore?' Cryptocurrency entrepreneurs spent 800 million won to create a statue of Elon Musk and attempted to deliver it to Musk himself to promote their own coin.

According to a report by The Wall Street Journal (WSJ) on the 27th (local time), the creators of the statue are 15 entrepreneurs including Ashley Samzellan and Alec Ulbert, who developed the cryptocurrency 'Elon GOAT.' While 'GOAT' literally means goat, it is commonly used as an acronym for 'Greatest Of All Time.' Considering Musk as the greatest figure of all time, they named their cryptocurrency 'Elon GOAT' and have been preparing the statue since last year for coin marketing purposes.

The statue depicts Elon Musk's face wearing a Dogecoin necklace attached to a goat's body, and this half-human, half-beast(?) figure is shown riding a rocket. The statue, which cost $600,000 (approximately 800 million won) to make, weighs 5.4 tons and took six months to complete. The cryptocurrency entrepreneurs transported the statue through California, Arizona, and Washington before bringing it to Texas, where Tesla's headquarters are located. Drivers who saw the statue during transport responded enthusiastically by honking horns or giving thumbs-up gestures.

The creators named the event of delivering the statue to Musk 'GOATSgiving,' a play on Thanksgiving, and waited for Musk in front of Tesla headquarters on the 26th. They hoped Musk would accept the statue as a gift and expected that if Musk, who has over 118 million followers, tweeted about the statue, people would take an interest in 'Elon GOAT.'

However, after two hours, Musk did not appear. Instead, Tesla security officer Dustin Daly approached the group of 15 and said that while Musk could not accept the statue on their behalf, if Musk 'liked' it, they would find a suitable place to display it. It is unknown whether Musk is aware of the statue or if he will accept this 'gift.' Musk owns Bitcoin, Ethereum, and Dogecoin but has not mentioned any other cryptocurrencies.

Alec Ulbert, co-founder and chief marketing officer of Elon GOAT, said, "We plan to camp on shared land near the road overlooking Tesla headquarters until Musk accepts the statue," adding, "We will stay here as long as possible." They also have a 'Plan B' in case Musk refuses the gift. If Musk does not accept the statue, they plan to showcase it through tours and organize events such as 'Elon Santa' and a toy car hospital for children during the Christmas season.