Elon Musk’s SpaceX announced it will accept meme-inspired cryptocurrency Dogecoin as payment. The DOGE-1 Mission to the Moon project targeted in 2022 will carry a payload for Geometric Energy Corporation. The company paid for the passage with the meme-inspired cryptocurrency.
Geometric Energy Corporation announced the dogecoin-funded mission last Sunday. SpaceX’s communications team confirmed the deal with GEC in an email to reporters.
Both parties did not disclose the mission’s financial value. For the mission, DOGE-1 will fly a 40-kilogram cube satellite as a payload on a Falcon 9 rocket. Geometric said that its payload “will obtain lunar-spatial intelligence from sensors and cameras on-board with integrated communications and computational systems.”
SpaceX vice president of commercial sales Tom Ochinero issued a statement on the deal. He said that DOGE-1 will accomplish many firsts.
He said that the mission “will demonstrate the application of cryptocurrency beyond Earth orbit and set the foundation for interplanetary commerce. We’re excited to launch DOGE-1 to the Moon!” Ochinero said.
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Dogecoin To The Moon
Earlier, SpaceX CEO Elon Musk announced plans involving cryptocurrency. Last April 1, he tweeted that SpaceX will attempt to plant a cryptocurrency on the moon. “SpaceX is going to put a literal Dogecoin on the literal moon,” Musk tweeted.
Musk also appeared last weekend on “Saturday Night Live” as a guest host. He mentioned the cryptocurrency during a back and forth with an SNL cast member.
When asked what a dogecoin is, Musk said that it is the future of currency and will soon take over the world. Michael Che, the SNL regular, commented:
“So, it’s a hustle?”, on which Musk replied, “Yeah, it’s a hustle,” and then laughed. As a result, investors panicked after hearing Musk utter “hustle,” and the crypto began losing value. By the show’s end, the cryptocurrency lost 30% of its worth, dropping from 65 cents to 41 cents.
Prior to Saturday Night Live, dogecoin is an odd cryptocurrency. It started as a payment system created by two men who wanted something fun and free from traditional banking. The two founders, Billy Markus and Jackson Palmer featured a character from a 2013 Doge meme.
The cryptocurrency began picking up supporters. Presently, the market capitalization as of May 5 was $85.3 billion. Meanwhile, Musk’s tweets in recent months helped popularize the meme coin and other cryptocurrencies. As a result, Dogecoin is now the world’s fourth-biggest cryptocurrency. Over the last month alone, value skyrocketed by 800%.
SpaceX Uses Falcon 9 Rocket for the 10th Time
Meanwhile, SpaceX continues to set records for its series of space flights. Its Falcon 9 rocket registered its 10th time landing back to earth safely.
Falcon 9 lifted off last week and successfully launched another batch of Starlink satellites into orbit. In fact, Falcon 9’s 10th trip became a benchmark for SpaceX, as it plans to reuse rockets for its trips to outer space.
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“It’s designed to do 10 or more flights with no refurbishment between each flight,” Musk told reporters in May 2018. “We believe that the [Falcon 9] boosters are capable of on the order of at least 100 flights before being retired. Maybe more,” he said.
Watch the Finance Value Guy video reporting that cryptocurrency Dogecoin signs a major deal with SpaceX:
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