SpaceX eyes cryptocurrency as lunar mission payment

Photo: AP Elon Musk

The company of billionaire Elon Musk SpaceX announced it would launch “DOGE-1 Mission to the Moon” in the first quarter of 2022 and said it would accept cryptocurrency dogecoin as payment, Reuters reported. The commercial rocket company extends the ambitions of Musk to introduce crypto payments. "SpaceX launching satellite Doge-1 to the moon next year - Mission paid for in Doge - 1st crypto in space -1st meme in space", Musk said in a tweet.

Geometric Energy Corporation announced the dogecoin-funded mission earlier with the statement not disclosing the mission's financial value.

"This mission will demonstrate the application of cryptocurrency beyond Earth orbit and set the foundation for interplanetary commerce", SpaceX Vice President of Commercial Sales Tom Ochinero was quoted as saying in the statement released by Geometric Energy. Musk said on Twitter in April that SpaceX was going to put a "literal Dogecoin on the literal moon". Musk’s tweets this year turned the digital currency, which began as a social media joke, into a speculator’s dream. On crypto data tracker CoinGecko.com, dogecoin has jumped more than 800% over the last month and is now the fourth-largest digital currency, with a market capitalization of $73 billion. It hit a record high last Thursday above $0.73.

Musk's Electric carmaker Tesla said in February it bought $1.5 billion worth of bitcoin and would soon accept it as a form of payment for its electric cars, a large stride toward mainstream acceptance that sent bitcoin soaring to a record high of nearly $62,000.

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