SpaceX to accept Dogecoin payments for next year's lunar mission

SpaceX to accept Dogecoin payments for next year's lunar mission

The cryptocurrency has jumped over 800% over the last month and is now the 4th largest digital currency

Elon Musks commercial rocket company, SpaceX will soon be accepting meme-inspired cryptocurrency Dogecoin as payment for its "DOGE-1 Mission to the Moon" expected to commence in the first quarter of 2022. In a tweet, Musk mentioned that SpaceX is launching satellite Doge-1 next year to the moon, a Mission that would be paid in Doge – the 1st crypto in space.

In a statement, Geometric Energy Corp. announced that Dogecoin-funded mission earlier on May 9, however, the company failed to disclose the mission's financial value. While, Tom Ochinero, SpaceX VP of Commercial Sales, said that this mission will validate the application of digital currency beyond Earth orbit and set the basis for interplanetary commerce.

In April, Musk mentioned on Twitter that SpaceX was going to send a literal Dogecoin on the literal moon. However, on Saturday Night Live (SNL) comedy sketch TV show, Musk was guest-starred as the host where he called Dogecoin a 'hustle', causing the cryptocurrency to close at more than a third of its price on May 9th.

Earlier this year, Musk's tweets had turned the once-obscure cryptocurrency into a speculator's dream. Dogecoin has jumped over 800% over the last month on crypto data tracker CoinGecko.com, and is now the 4th largest digital currency, with a market valuation of $73 billion. The currency recently hit a record high of above $0.73.

Making huge bets in cryptocurrency, electric carmaker Tesla Inc. said in February that it purchased $1.5 billion worth of Bitcoin and in time would accept it as a form of payment for its EVs, a major effort toward large-scale acceptance of digital currency that led Bitcoin to soar to a record high valuation of around $62,000.

Source Credit: https://www.moneycontrol.com/news/business/spacex-accepts-dogecoin-as-payment-to-launch-lunar-mission-next-year-6873161.html