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SpaceX to launch rocket funded entirely by Dogecoin

Washington Examiner logo Washington Examiner 5/9/2021 Carly Roman
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While some may bark at the moon, Elon Musk's SpaceX intends to launch a rocket funded entirely by Dogecoin.

The DOGE-1 mission to the moon, funded entirely by the cryptocurrency, will be the first-ever commercial lunar payload in history when it launches aboard a SpaceX Falcon 9 rocket, according to a statement from SpaceX. The 40 kilogram cubesat will be launched as a rideshare on a Falcon 9 lunar payload mission in the first quarter of 2022, the readout added.

"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 said of the venture. "We're excited to launch DOGE-1 to the Moon!"

OAKLAND ATHLETICS TO ACCEPT DOGECOIN AS CURRENCY

Once valued at a fraction of a cent per token on cryptocurrency exchanges, Dogecoin, the cryptocurrency started as a joke based on the "doge" meme, has soared in popularity due to its viral appeal. Musk, the founder and lead designer of SpaceX, has been a particularly vocal champion of Dogecoin, calling it "the people's crypto."

Cryptocurrencies have become increasingly accepted as forms of payment across both public and private entities. The most popular cryptocurrency, Bitcoin, which eclipsed a $1 trillion market valuation in February, is accepted at many major companies, such as Microsoft, Home Depot, and Starbucks.

Governments are also taking interest in cryptocurrency, with the city of Miami authorizing a commission to commence studies on the use of cryptocurrency for city services.

"I've been a crypto guy since the beginning," said Mayor Francis Suarez in February. "I believe in the sort of the underpinnings of it, the mathematics behind it. I'm fascinated by the way that it came about."

Dogecoin has also become more mainstream in recent months, with the Oakland Athletics, a Major League Baseball team in California, announcing last week it would accept the cryptocurrency as a form of payment in exchange for two-seat pods during its series against the Toronto Blue Jays.

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Despite the soaring popularity, Dogecoin's trading tumbled after Musk referred to the cryptocurrency as a "hustle" moments after calling it "an unstoppable financial vehicle that’s going to take over the world" during his stint hosting Saturday Night Live.

On Sunday, Dogecoin was quoted as low as $0.416 on cryptocurrency exchange Binance, down from approximately $0.65 before Musk's remarks during Saturday night's show.

Tags: News, spaceX, Space, Rockets, Dogecoin, Cryptocurrency

Original Author: Carly Roman

Original Location: SpaceX to launch rocket funded entirely by Dogecoin

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