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Cryptos: Elon Musk’s SpaceX to send dogecoin-funded satellite to the moon

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Elon Musk may not have sent dogecoin’s price to the moon with his “Saturday Night Live” appearance, but his SpaceX will accept the cryptocurrency to fund a lunar mission next year.

In a statement Sunday, Geometric Energy Corp. announced the “DOGE-1 Mission to the Moon,” the first-ever commercial lunar payload paid entirely with dogecoin. The company will team with SpaceX to send a 40-kg satellite to the moon on a Falcon 9 rocket in the first quarter of 2022.

“Having officially transacted with doge for a deal of this magnitude, Geometric Energy Corporation and SpaceX have solidified doge as a unit of account for lunar business in the space sector,” Geometric Energy’s Chief Executive Samuel Reid said in a statement.

Tom Ochinero, Space X’s vice president of commercial sales, added: “This mission will demonstrate the application of cryptocurrency beyond Earth orbit and set the foundation for interplanetary commerce. We’re excited to launch DOGE-1 to the Moon!”

The companies did not disclose how much the mission is costing.

“To the mooooonnn!!” SpaceX CEO Musk tweeted Sunday.

Dogecoin
DOGEUSD,
+2.51%

slumped Sunday after Musk’s “SNL” appearance failed to rally prices toward $1. Instead, the price of dogecoin, which was around $70 before the show started Saturday night, plunged as low as $47. By Sunday evening, it had rebounded to about $57, according to Coinbase.

The digital currency, which was conceived as a joke, has spiked more than 10,000% year to date, and despite Sunday’s losses has gained nearly 400% over the past month.

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