May 10, 2021
Elon Musk’s SpaceX will accept the meme-inspired cryptocurrency dogecoin as a way of payment for the “DOGE-1 Mission to the Moon” in the first quarter of next year.
Musk tweeted last month that SpaceX would put a “literal dogecoin on the moon,” turning the digital currency from a joke in the crypto ecosystem to a speculator’s dream.
The Geometric Energy Corporation announced the mission on Sunday but did not provide details of the mission’s financial value.
During Musk’s guest appearance on the comedy sketch TV show “Saturday Night Live,” he called dogecoin a “hustle” that cost the digital currency a third of its value Sunday night.
Since it appeared on the market as memecoin, dogecoin has risen by more than 800% compared to the previous month and is now the fourth-largest digital currency with a market capitalization of 73 billion dollars, reaching a record high of 0.73 dollars last Thursday.
Musk’s Tesla bought $1.5 billion worth of bitcoin and would soon allow it as a way of payment for his electric cars, increasing its acceptance in the mainstream. Bitcoin has so far risen to a record high of $62,000.
For more information, read the original story on Reuters.
