Dogecoin paid for SpaceX’s mission to the moon next year Business and Economic News

Musk said on Twitter in April that SpaceX would put “a literal Dogecoin on the literal moon.”

SpaceX will launch “DOGE-1 Mission to the Moon” in the first quarter of next year, accepting Elon Musk’s commercial rocket company as a meme-inspired cryptocurrency payment for Dogecoin.

“SpaceX launched the Doge-1 satellite to the moon next year – Mission paid in Doge – Crypt 1 in space – Meme 1 in space,” Musk said in a tweet.

Geometric Energy Corporation announced the mission funded by Dogecoin on Sunday, and the document does not disclose the financial value of the mission.

Geometric’s website describes the company as a private Canadian company created to invent renewable technology, and has since expanded into areas like space.

“DOGE has proven to be a fast, reliable and cryptographically secure digital currency when traditional banks cannot and when it is sophisticated enough to fully fund the Moon’s commercial mission,” Geometric said in the statement. “It has been selected as the unit of account for all lunar business between SpaceX and Geometric Energy Corporation and has set a precedent for future missions to the Moon and Mars.”

“This mission will demonstrate the application of cryptocurrency beyond Earth’s orbit and lay the groundwork for interplanetary trade,” said Tom Ochinero, Vice President of SpaceX Commercial Sales, in a statement released by Geometric Energy.

Musk said on Twitter that in April SpaceX would put “a literal Dogecoin on the literal moon.”

Dogecoin lost more than a third of its price on Sunday after Musk called it a “bustle” in place of the guest host on a Saturday night Live comedy sketch TV show.

This year Musk’s tweets turned into a dark digital currency that began as a joke on social media as a dream of speculators.

CoinGecko.com is a cryptocurrency data follower, Dogecoin has jumped more than 800 percent in the last month and is the fourth largest digital currency with a market capitalization of $ 73 billion. He set a record high of $ 0.73 on Thursday.

Musk is also the chief executive of electric car maker Tesla Inc., which said in February that it had bought $ 1.5 billion in Bitcoin and would soon accept it as a payment for its electric cars, a major step towards a major acceptance that Bitcoin sent to a record high. at an altitude of nearly $ 62,000.