Posted 1 year ago | by Catoshi Nakamoto
After his Saturday Night Live stunt, Elon Musk has announced that in partnership with Canadian engineering firm Geometric Energy Corporation, SpaceX will launch its DOGE-1 Cube Sattelite to the Moon in the first quarter of 2022. As the name implies, the satellite is entirely funded by Dogecoin — the first commercial lunar payload paid for with the cryptocurrency, Geometric Energy said.
The mission will launch aboard a Falcon 9 rocket headed to the moon. The 88-pound Cube Sat will collect “lunar-spatial intelligence” through a combination of cameras and sensors, according to the company. Space X Commercial sales VP Tom Ochinero said the mission would demonstrate the viability of crypto beyond Earth and establish a “foundation for interplanetary commerce.”
SNL devoted an entire segment of its Weekend Update to Dogecoin over the weekend, with Musk playing the role of a financial expert who tries to explain digital money to the news anchors. During the skit, Musk says to call him the “Dogefather,” then he proceeds to be bombarded with the same question over and over again. What is Dogecoin? Musk repeatably explains digital currency until he gives up and says “it’s a hustle.”
Following the televised performance the “Dogefather” also tweeted a poll asking his 54 million followers on Twitter “Do you want Tesla to accept Doge?”
Do you want Tesla to accept Doge?
— Elon Musk (@elonmusk) May 11, 2021
This comes just a few months after Tesla started accepting the world’s largest cryptocurrency, Bitcoin, for purchasing of its electric vehicles.
In March, Musk said U.S. customers could purchase Tesla vehicles with Bitcoin, marking a significant step forward for the cryptocurrency’s use in buying goods and services. Further, Tesla acquired $1.5 billion in Bitcoin in January, helping to propel the number one digital asset to higher prices. Dogecoin on the other hand began as a social media joke in 2013 with a shiba inu dog as its avatar, and an unlimited supply.
In January, Musk also added one single word to his bio which caused the cryptocurrency markets to react, Bitcoin. He also sent out a cryptic tweet, “In retrospect, it was inevitable.” It was recently revealed in a Q1 2021 earnings report that Tesla sold 10% of its Bitcoin holdings. Musk said this was to prove the cryptocurrency’s liquidity as an alternative to holding cash on the balance sheet according to a Tweet by The Dogefather. Musk added that he has not sold any of his personal Bitcoin.
Dogecoin is currently trading at [FIAT: $0.503927] UP +4.8% in the last 24 hours according to Coingecko at the time of this report.