The company run by Elon Musk surprised by quickly accepting payments in the Dogecoin cryptocurrency.
Aerospace company SpaceX has just announced a mission called “DOGE-1 Mission to the Moon”. This is a cargo program to the Moon, in which SpaceX accepts payment in Dogecoin.
DOGE-1 will send a 40 kg Geometric Energy Corporation satellite to the Moon. This satellite will collect information about the planet Earth. Representatives of the two companies have not announced the contract value paid in Dogecoin. The DOGE-1 program will send a satellite to the Moon on a Falcon 9 rocket. Fees are paid in Dogecoin. Photo: SpaceX. SpaceX vice president Tom Ochinero said the DOGE-1 program “will demonstrate the application of extraterrestrial cryptocurrencies and lay the groundwork for transplanetary commerce.” Earlier, Elon Musk said that SpaceX will “actually put a Dogecoin on the Moon”. However, he made his statement on April 1, so no one is sure if he was joking or telling the truth. SpaceX is not the first company run by Elon Musk to accept cryptocurrency payments. In February, Tesla announced it was buying $1.5 billion in Bitcoin and accepting payments for cars in the currency. The move caused Bitcoin price to surge. In the crypto world, the term “to the moon” is often used to refer to a coin’s value skyrocketing. According to Coinmarketcap, on the morning of May 10 (Vietnam time) Dogecoin is priced at about 0.55 USD, with a market capitalization of 72 billion USD, ranking 4th after Bitcoin, Ethereum and Binance coin. Before that, Dogecoin had 2 strong volatile weekends. On May 8, the news that Elon Musk hosted Saturday Night Live caused the price of Dogecoin to increase sharply. According to Coinmarketcap data, the value of each Dogecoin coin has increased from $0.34 on May 1 to $0.69 as of the morning of May 8. Many fans of Musk and Dogecoin even plan to invite friends over to watch and celebrate if the coin’s price skyrockets. On the morning of May 8, Elon Musk posted on his personal Twitter a picture of him and two other guests of Saturday Night Live. Musk also inserted a picture of the dog Shiba, the symbol of Dogecoin, into the frame. Soon after, the Dogecoin price increased rapidly and reached an all-time high of $0.72 before cooling off. The price of Dogecoin dropped dramatically on the morning of May 9, before Elon Musk hosted Saturday Night Live. Photo: Coindesk. However, before the time of Elon Musk’s broadcast, the price of Dogecoin dropped dramatically. According to the data of Coinmarketcap , from nearly 0.7 USD, Dogecoin dropped to more than 0.5 USD after more than 30 minutes of the program. The market capitalization of this coin dropped from $90 billion to just $68 billion after 1 hour, more than $150 million of leveraged investors was blown away. As expected by many, Elon Musk mentioned Dogecoin in the middle of the show. “Recently, the prices of many cryptocurrencies have increased, such as Bitcoin, Ethereum, and especially Dogecoin,” replied Elon Musk when asked “what is cryptocurrency”.
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