SpaceX accepts Dogecoin as payment for DOGE-1 Mission to the Moon

Elon Musk is not done with Dogecoin as of yet – he will be accepting the meme cryptocurrency as payment for the much awaited “DOGE-1 Mission to the Moon” which would be launched in the first quarter of 2022.

Geometric Energy Corporation, on Sunday, announced the dogecoin-funded mission but the mission’s financial value was not disclosed. DOGE-1 will fly a 40kg cube satellite as a payload on a Falcon rocket. Geometric Energy Corporation said its payload will obtain lunar-spatial intelligence from sensors and cameras on-board with integrated communications and computational systems.

Tom Ochinero, SpaceX Vice President of Commercial Sales, in an official statement said DOGE-1 will demonstrate the application of cryptocurrency beyond Earth orbit and set the foundation for interplanetary commerce. “We are excited to launch DOGE-1 to the Moon.

Musk had previously announced SpaceX’s intentions in a tweet on April Fools Day, but it had been brushed off as a “joke” of sorts. Now, SpaceX’s announcement comes on the day the company set a new record for its Falcon 9 series of rockets. After launching another batch of Starlink satellites into orbit, SpaceX landed the Falcon 9 rocket’s booster for a 10^th time. This was described as a benchmark Musk had stated as key in the company’s progress for reusing its rockets.

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Meanwhile, Dogecoin took a dive when Musk made his “Saturday Night Live” debut. The meme-inspired cryptocurrency, as per various reports, fell as much as 29.5%, dropping to 49 cents at one point. According to CNBC, Tesla’s owner mentioned Dogecoin in his opening monologue and on Weekend Update, SNL’s satirical news show. Moreover, in a Q&A with hosts Michael Che and Colin Jost, Musk called himself the “Dogefather”. He said the coin was a hustle and howled to the moon.

Edward Moya, a senior market analyst at Oanda, in a note on May 4 wrote that Musk will undoubtedly have a sketch on cryptocurrencies that will probably go viral for days and further motivate his army of followers to try to send dogecoin to the moon.