SpaceX is now accepting Dogecoin, and it will be paid exclusively in the cryptocurrency to launch an upcoming satellite called DOGE-1 to – yes – the moon.
The DOGE-1 is a cubesat intended to acquire “lunar-spatial intelligence” using built-in cameras and sensors. It is shipped and paid by a company called Geometric Energy Corporation, and it will be flown on a Falcon 9 missile in the first quarter of 2022.
Dogecoin, a cryptocurrency that started out as a goofy meme and is now a more valuable goofy meme, has been on the rise lately, with enough trading around spikes in the currency to cause crashes of the trading app Robinhood. Elon Musk is the coin’s biggest supporter, tweeted Dogecoin memes, referring to himself as the ‘Dogefather’ and hyping it (sort of) on Saturday Night Live. Investors love to talk about sending Dogecoin’s value “to the moon,” so we get this silly stunt about sending a satellite called DOGE-1 paid to Musk’s Dogecoin company to the moon.
SpaceX is going to put a literal Dogecoin on the literal moon
– Elon Musk (@elonmusk) April 1, 2021
Given all this, SpaceX is including in the announcement the exact quote that Musk might assume mandated the company: “We’re excited to launch DOGE-1 to the Moon!” said SpaceX vice president of commercial sales Tom Ochinero.
It’s good news for Dogecoin, which has had a rough week. After a spike in price, a fall around a Robinhood crash, and a spike again in anticipation of Musk’s SNL outwardly, the cryptocurrency crashed overnight after a segment in which Musk joked that Dogecoin was a ‘hustle’
The announcement appears to be a fight back against that story. Ochinero says the partnership “lays the foundation for interplanetary trade.” And the CEO of Geometric Energy Corporation says the transaction has “solidified DOGE as a unit of account for lunar activities in the space industry.” The press release goes on to say that Dogecoin is “advanced enough to fully fund a commercial lunar mission” and that it will be used for any lunar business between the two companies. (Musk’s other company, Tesla, has recently started accepting car purchases in Bitcoin.)
The edge has contacted SpaceX and Geometric Energy Corporation for more information on the planned launch.
So assuming everything goes according to plan, Dogecoin will help send DOGE-1 to the moon next year. Will that also send Dogecoin to the moon? It probably depends on how far the parties involved continue to hype it. Like Musk’s SNL character admits, “Yes, it’s a bustle.”