SpaceX’s decision to embrace Dogecoin (DOGE) as payment for rescheduling the highly anticipated DOGE-1 Lunar mission is a remarkable fusion of cutting-edge technology and the decentralized world of cryptocurrency.
As announced on X, this unexpected move by Elon Musk’s aerospace company has stirred excitement and sparked debates within the crypto and space communities.
Dogecoin to Fund Space Exploration Endeavors
Created as a meme-inspired cryptocurrency, Dogecoin has recently gained traction due to endorsements from high-profile figures like Musk. Its acceptance as a form of payment for SpaceX’s mission highlights the increasing, mainstream acceptance of cryptocurrencies beyond traditional financial transactions.
Rescheduling the DOGE-1 Lunar mission adds another layer of intrigue to this development. Originally announced as a collaborative effort between SpaceX and Geometric Energy Corporation (GEC), the mission aims to demonstrate the viability of using cryptocurrencies to fund space exploration endeavors.
GEC @GeometricEnergy paid @SpaceX in DOGE for re-booking the DOGE-1 Mission to the Moon to a mission after IM-1, which could be a @Int_Machines mission such as IM-2 or another mission depending upon when the DOGE-1 satellite ships to @maverick_space in the U.S. from @ExoboticsUK pic.twitter.com/5MKzDMIxtP
— SΔMUΞL RΞIÐ (e/acc) (@SamuelReidGEC) February 5, 2024
With Dogecoin now part of the equation, the mission takes on a new dimension, capturing the imagination of crypto enthusiasts worldwide.
DOGE-1 Lunar Mission’s Success Will Make History
Recall that, the intuitive machines IM-1 launch was postponed in 2022 due to the satellite not being ready in time for the SpaceX Falcon 9 rocket payload.
GEC CEO Samuel Reid explained in his tweet that the new agreement involves a rebooking fee paid in Dogecoin. Additionally, the DOGE-1 satellite will be placed on an open manifest basis for a mission that may take place after IM-1, depending on when the satellite is shipped to the United States.
The success of the DOGE-1 Lunar mission and its use of Dogecoin could pave the way for future collaborations between the crypto and space sectors. As technology continues to advance and barriers to entry lower, we may witness a new era of innovation fueled by the intersection of finance and space exploration.
Dogecoin vs Bitcoin
Meanwhile, the major DOGE supporter Musk has reiterated that he would prefer Dogecoin over Bitcoin (BTC) for day-to-day transactions. Likewise, during an interview on the Full Send Podcast, the Tesla CEO said that the DOGE blockchain has much more transactional capacity than BTC.
Musk noted that while Bitcoin transactions take around 10 minutes to complete, Dogecoin transactions are completed in just 60 seconds. However, this is not the first time Elon Musk is taking the side of DOGE. previously, Musk-owned The Boring Company announced it would accept dogecoin as a payment option.