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SpaceX To Accept Dogecoin



Falcon 9 rocket logo at SpaceX (Space Exploration Technologies Corp.) headquarters | SpaceX To Accept Dogecoin | Featured

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. 

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Interplanetary Commerce

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.

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. 

Doge Meme

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. 

“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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