Elon Musk fans creating giant sculpture of billionaire as a goat on a rocket

Elon Musk statue and cryptocurrency
It's being paid for by a tax on a new cryptocurrency called the Elon GOAT token. Photo credit: Supplied / Elon GOAT Token

A group of Elon Musk fans are taking their love of the controversial billionaire to a whole new level with a giant statue of him depicted as a goat on the back of a rocket.

The Tesla founder's fans are known to jump to his defence on social media if anyone writes anything negative about him, but the crypto investors are perhaps more dedicated than most.

As well as the upcoming statue, they've also created a new cryptocurrency called the Elon GOAT Token to pay tribute to the man they've dubbed the "godfather of crypto".

According to the token's website they're building the "biblical-sized monument on the back of a semi-trailer" in Musk's honour.

"When the Elon GOAT is complete, we're towing it to Tesla and demanding that Elon claims his GOAT," the website states.

"The Elon GOAT Monument will serve as an anchor to the Token and as a tribute to the world's crypto community."

Early investors in the new cryptocurrency are helping to pay for the statue, which depicts the rocket pointing to Mars - the planet Musk has promised to colonise.

A mock-up of the statue
Photo credit: Supplied / Elon GOAT Token

A tax on every trade of the Elon GOAT token goes towards the funds to pay the designers and makers of the transportable statue, which will also boast pyrotechnics and lasers.

As you might expect from Musk fans, the creators are already talking up the statue and comparing it to some of the greatest monuments and artworks in the world.

"At every crucial point in human history, a magnum opus, or masterpiece, has captured the essence of that period. Think of the Great Pyramids of Giza. The Statue of David. Picasso's Guernica," the token's white paper said.

"The world now stands upon the brink of the greatest transfer of wealth in its entire history.

"What better way to enshrine the beginning of this new blazing era, than to do so by celebrating the degenerates involved, alongside the most innovative man of the 21st Century, Elon Musk?"

One of those responsible for the project, Ashley Sansalone, told Vice's Motherboard that he'd been involved in other crypto projects but this was a "passion project".

"Elon Musk essentially moves markets and crypto," he told the website. 

"He's always been a visionary and he's always been a big proponent of the crypto community. We thought there should be a monument about it."

Work on the statue has already begun, with designer Danny Wang pocketing US$20,000 to start. Metal sculptor Kevin Stone has also started working on the giant aluminium head.

Musk has yet to make any comments regarding either the cryptocurrency or the statue in his honour.