Dogecoin heads 'to the Moon' after being used to invest in a lunar satellite mission
10 May, 2021
The rise of the cryptocurrency Dogecoin has reached a new level after the token was used to cover a lunar satellite launch.
SpaceX, Elon Musk’s commercial rocket firm, will go on a Moon voyage in 2022 carrying a so-called cubesat - a mini-satellite used for space research - from Geometric Energy that’s been payed for entirely in Dogecoin.
The development may be the latest twist in the saga over the digital token, which started as a tale in 2013 but is currently a dominating internet meme and sitting on a 21,000 % rally previously year. Mr Musk is a key player in the drama, boosting the purchase price with a succession of tweets lately.
The so-called DOGE-1 Mission to the Moon may be the first commercial lunar payload ever sold paid for totally with Dogecoin, according to a statement from Geometric.
The 40 kilogram cubesat will launch aboard a SpaceX Falcon 9 rocket. The business did not specify the volume of Dogecoin involved in the transaction with SpaceX. There is no immediate response to questions emailed after hours.
Geometric’s website describes the firm as an exclusive Canadian company originally founded to invent renewable energy technologies, and which has since expanded into areas like space.
“Doge has proven to become a fast, reliable and cryptographically secure digital currency that operates when traditional banks cannot and is sophisticated enough to finance a commercial Moon mission in full,” Geometric said in the statement.
“It has been chosen as the machine of account for all lunar business between SpaceX and Geometric Energy Corporation and sets [a] precedent for future missions to the Moon and Mars.”
Billionaire entrepreneur Mark Cuban, rapper Snoop Dogg and Kiss frontman Gene Simmons are among the other celebrities who have boosted Dogecoin. Simultaneously, warnings abound that its rally is unsustainable and that buyers could lose almost all their money.
The phrase “to the Moon” can often be used to express the hope an asset’s price will continue to rise, and Mr Musk employed the term in a Twitter post referring to the lunar deal. He also cited the token in a tv set appearance on Saturday Night Live over the weekend.
Source: www.thenationalnews.com
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