Elon Musk accepts Dogecoin as payment for a SpaceX mission

A Canadian company, called Geometric Energy Corporation, confirmed to CNN Business that it will pay SpaceX to send a 40 kg satellite on a space mission solely with digital currency.
Elon Musk accepts Dogecoin as payment for a SpaceX mission
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Entrepreneur Staff
3 min read
This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.

Is it a scam or not? In his recent appearance on Saturday Night Live (SNL) , Elon Musk called Dogecoin a "scam." However, this Monday, CNN Business reported that the founder of Tesla and SpaceX will accept cryptocurrency as a form of payment in a space mission of his company.

According to the media, a Canadian company, called Geometric Energy Corporation, confirmed that it will pay SpaceX to send a 40 kg satellite on a space mission solely with digital currency.

This mission baptized with the name Doge-1 is scheduled for the year 2022 and the objective of the satellite will be "to obtain lunar-space intelligence, through sensors and cameras."

Samuel Reid, CEO of the Canadian firm, told CNN Business , that "it was not a joke." Also, according to Tom Ochinero, vice president of commercial sales for Geometric Energy Corporation, the mission aims to demonstrate that cryptocurrencies can be used beyond Earth orbit and lay the foundation for interplanetary commerce.

This information was released after the price of Dogecoin fell more than 40% over the weekend, following a statement by Musk on the SNL , where he referred to the cryptocurrency as a "scam."

Dogecoin is a digital currency that made its first appearances in 2013 when IBM software engineers Billy Markus and Jackson Palmer teamed up with the goal of developing an instant, fun, infinite payment system without bank fees.

Recently the popularity of the digital currency has grown and with it its investors and its price, although SpaceX has not yet commented on it, the Canadian company assures that this transaction is a reality.

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