Elon Musk And SpaceX Launching Dogecoin Funded Moon Mission In 2022

Elon Musk has announced that his private spaceflight company SpaceX will now accept the meme-inspired cryptocurrency dogecoin as payment to launch the ¡°DOGE-1 Mission to the Moon¡± in the first quarter of 2022.

SpaceX launching satellite Doge-1 to the moon next year

¨C Mission paid for in Doge
¨C 1st crypto in space
¨C 1st meme in space

To the mooooonnn!!https://t.co/xXfjGZVeUW

¡ª Elon Musk (@elonmusk) May 9, 2021

This comes even as the token crashed over 30 per cent, wiping out $30 billion of Dogecoin¡¯s market value, after Musk the ¡°Dogefather,¡± said that the cryptocurrency was a ¡°hustle¡± during a segment of his "Saturday Night Live" debut.

Elon Musk is the highest profile supporter of the digital currency, which was founded in 2013 as a joke on social media. That goofy meme holds quite a value today--it¡¯s the world's fourth-biggest cryptocurrency--thanks to the technology billionaire who has been pushing up the price of the cryptocurrency in the past few months with his tweets.

According to cryptocurrency data tracker CoinGecko.com, its price has soared by more than 800 per cent over the last month, with its total market value rising above $70 billion.

OI

Doge enthusiasts like to talk about sending Dogecoin¡¯s value ¡°to the Moon¡±--a catchphrase that¡¯s intended to drive the value of the cryptocurrency to one dollar. Last month, Musk tweeted that SpaceX was going to put a "literal Dogecoin on the literal moon".

SpaceX is going to put a literal Dogecoin on the literal moon

¡ª Elon Musk (@elonmusk) April 1, 2021

Dogecoin flies to moon

Geometric Energy Corporation announced the dogecoin-funded mission on Sunday and said that it will collaborate with SpaceX to launch a 40kg miniature satellite called a cubesat on a Falcon 9 lunar payload mission early next year.

The payload will obtain lunar-spatial intelligence from sensors and cameras on-board with integrated communications and computational systems.

Reddit

"This mission will demonstrate the application of cryptocurrency beyond Earth orbit and set the foundation for interplanetary commerce", SpaceX Vice President of Commercial Sales Tom Ochinero said in a statement.

Earlier in February, Elon Musk, the ¡®Technoking¡¯ of Tesla, announced that the electric car maker company has bought $1.5 billion worth of bitcoin and would accept the cryptocurrency as payment for its vehicles.

Representative Visual | Indiatimes

Last month, Tesla reported its seventh consecutive quarter of ¡°profits¡± and generated $101 million in income from the sale of 10 per cent of its bitcoin holdings--also helping the world¡¯s largest cryptocurrency (by market cap) recover from a five-day slump.