Can Elon Musk’s SpaceX take Dogecoin ‘to the Moon’?


By Joanna Ossinger

The rise of the cryptocurrency Dogecoin has reached a brand new stage after the token was used to pay for a lunar satellite tv for pc launch.

SpaceX, Elon Musk’s business rocket agency, will embark on a Moon voyage in 2022 carrying a so-called cubesat — a mini-satellite used for area analysis — from Geometric Vitality Corp. that’s been paid for fully in Dogecoin.

The event is simply the most recent twist within the saga over the digital token, which began as a joke in 2013 however is now a dominating Web meme and sitting on a 21,000% rally up to now yr. Musk has been a key participant within the drama, boosting the value with a succession of tweets in current months.

The so-called DOGE-1 Mission to the Moon is the primary business lunar payload in historical past paid for fully with Dogecoin, in accordance with an announcement from Geometric. The 40-kilogram (88 kilos) cubesat will launch aboard a SpaceX Falcon 9 rocket. The corporate didn’t specify the quantity of Dogecoin concerned within the transaction with SpaceX. There was no fast response to questions emailed after-hours.

Geometric’s web site describes the agency as a personal Canadian firm initially based to invent renewable vitality applied sciences, and which has since expanded into areas like area.

“DOGE has confirmed to be a quick, dependable, and cryptographically safe digital currency that operates when conventional banks can’t and is subtle sufficient to finance a business Moon mission in full,” Geometric mentioned within the assertion. “It has been chosen because the unit of account for all lunar enterprise between SpaceX and Geometric Vitality Company and units precedent for future missions to the Moon and Mars.”

Mark Cuban, Snoop Dogg and Gene Simmons are among the many different celebrities who’ve boosted Dogecoin. On the similar time, warnings abound that its rally is unsustainable and that consumers might lose all their cash.

The phrase “to the Moon” is usually used to specific the hope that an asset’s value will proceed to rise, and Musk employed the time period in a Twitter publish referring to the lunar deal. He additionally cited the token in a tv look on Saturday Evening Dwell over the weekend.

Source link

HostGator Web Hosting


Please enter your comment!
Please enter your name here