SpaceX is now accepting Dogecoin (DOGE) as payment to fund the upcoming satellite, DOGE-1, which will be launching in collaboration with logistics firm Geometric Energy Corporation (GEC).
DOGE-1 will be the first meme-inspired satellite on the moon, launched as a 40 kilogram cube flown up on a Falcon 9 rocket. The mission is set for the first quarter of 2022.
After the announcement of the DOGE-1 Mission, Dogecoin surged 30% in a matter of minutes, recovering from its previous crash after Elon Musk’s appearence on Saturday Night Live.
DOGE to the Moon, Literally
Dogecoin has been one of the main discussions in the crypto community, causing controversy as well, because what started as a joke became the best-performing asset of the market.
Since Elon Musk and other influencers started tweeting about Dogecoin, it has surged over 25,000%, and now holds a US$86 billion market cap for the past six months.
People all around the world have shown interest in investing in Dogecoin, possibly lured by the massive returns that the famous memecoin can offer. DOGE has also reached 1 million followers on Twitter.
Interplanetary Commerce Using DOGE
According to SpaceX Vice President of Commercial Sales, Tom Ochinero, DOGE-1 will set the foundation for interplanetary commerce, demonstrating the applications of cryptocurrencies beyond Earth orbit.
Indeed, through this very transaction, DOGE has proven to be 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. It has been chosen as the unit of account for all lunar business between SpaceX and Geometric Energy Corporation and sets precedent for future missions to the Moon and Mars.
Press Release by Geometric Energy Corporation
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