Elon Musk-owned company SpaceX will be paid entirely in Dogecoin for its next payload mission. This step marks a new milestone for the crypto ecosystem as a commercial project owned by one of the wealthiest people, which uses altcoin to pay for the mission’s expenses.
Dogecoin is an altcoin initially inspired by a meme that saw a recent surge in price following the tweets from Elon Musk and other top-tier digital influencers. Recently the altcoin costs $0.50 with a market cap of $65.64B, according to Coindesk.
No one would have imagined that an altcoin such as Dogecoin would have been officially accepted as a mode of payment by one of the largest private space companies. However, it will soon become a reality as SpaceX will be paid fully in Dogecoin for transporting a commercial payload to the moon on its Falcon 9 rocket.
Elon Musk recently tweeted about this exciting news with a Shiba Inu dog featuring a music video, “To the Moon”.
He said, “SpaceX launching satellite Doge-1 to the moon next year. Mission paid for in Doge. 1st crypto in space. 1st meme in space,”
This payload belongs to Geometric Energy Corporation that announced on May 9th its plan of collaborating with SpaceX for the DOGE-1 Mission. This mission involves sending 40kg miniature satellites at the beginning of the following year.
“Having officially transacted with DOGE for a deal of this magnitude, Geometric Energy Corporation and SpaceX have solidified DOGE as a unit of account for lunar business in the space sector,” said Samuel Reid, the CEO of Geometric Energy, in a statement.
“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,” he further added.
Many crypto enthusiasts were expecting a partnership of this sort when Elon Musk tweeted about his plans to put Dogecoin on the moon. However, it was mainly considered a joke as the day Elon Musk posted the tweet on April 1st, “the April fool’s day”.
Elon Musk has always been in the news because of his sense of humor and relatability. However, clearly, the tweet was not a joke, as evident from this recent positive change of events for the crypto world.