Billionaire Elon Musk’s SpaceX company has just accepted Dogecoin as a form of payment to carry out the mission of sending the DOGE-1 satellite to the Moon.
DOGE-1 is a cube equipped with cameras and sensors to collect lunar space data. It is being sent and paid for by a company called Geometric Energy Corporation. DOGE-1 is set to be launched to the Moon by the Falcon 9 rocket in early 2022.
Dogecoin is a cryptocurrency created based on a joke and the meme featuring the Shiba Inu dog. Recently, Dogecoin has seen a meteoric rise in value, as individual investors believe that this cryptocurrency has the support of billionaire Elon Musk. However, after the airing of Saturday Night Live, featuring Elon Musk, last weekend, Dogecoin’s value plummeted by 30%.
After this significant disappointment, individual investors finally get to see “Dogecoin to the Moon” in the literal sense. A satellite named DOGE-1 will be launched to the Moon by Elon Musk’s SpaceX, and all costs will be paid in Dogecoin.
Elon Musk also tweeted on his personal page: “Mission paid for in Dogecoin. The first crypto to fly in space. The first meme to fly in space.”
The CEO of Geometric Energy Corporation stated that Dogecoin will be used in all business activities between the two companies. So, assuming everything goes as planned, Dogecoin will help send the DOGE-1 satellite to the Moon.
However, experts warn that investing in Dogecoin carries many risks.
Source: theverge