SpaceX welcomes Dogecoin as payment

Tesla announced last month that it invested $1.5 billion in Bitcoin and the company also revealed that it will start accepting Bitcoin as payment for buying its cars. Well, another company related to Elon Musk is following the suit.

SpaceX will be inaugurating the “DOGE-1 Mission to the Moon” in the first quarter of next year and the company will be approving cryptocurrency dogecoin as payment, revealed Elon Musk in a tweet.

The development follows a tweet by Elon Musk in April that SpaceX was going to put a “literal Dogecoin on the literal moon”.

Canadian engineering firm Geometric Energy Corporation has collaborated with SpaceX to launch its DOGE-1 CubeSat to the Moon in the first quarter of 2022. The mission will launch aboard a Falcon 9 rocket. The 88-pound CubeSat will collect “lunar-spatial intelligence” through a variety of cameras and sensors, says the company.

In the announcement published by Geometric Energy, SpaceX Vice President of Commercial Sales Tom Ochinero mentioned: “This mission will demonstrate the application of cryptocurrency beyond Earth orbit and set the foundation for interplanetary commerce.”

Dogecoin lost more than a third of its price on Sunday after Musk called it a ‘hustle’ during his guest-host spot on the “Saturday Night Live” comedy sketch TV show.

For those who are unaware, the cryptocurrency dogecoin began as a social media joke, and after Musk’s tweets earlier this year, the almost obscure digital currency came back into the market. It has jumped more than 800% over the last month and is now the fourth-largest digital currency, with a market capitalization of $73 billion.