SpaceX CEO Elon Musk said he will launch a mission to the moon using Dogecoin, a meme-based cryptocurrency.
- This is especially clever because investors often use the phrase “to the moon” to describe the rise of Dogecoin.
Musk said he will launch the new “DOGE-1 Mission to the Moon” in early 2022, saying dogecoins will be used to pay for the mission. He said this will be the first meme and cryptocurrency to make its way to space — whatever that means.
Canada’s Geometric Energy Corporation announced the mission on Sunday, according to BBC News.
- “This mission will demonstrate the application of cryptocurrency beyond Earth orbit and set the foundation for interplanetary commerce,” SpaceX Vice President of Commercial Sales Tom Ochinero said in a statement, according to BBC News.
Musk’s announcement came hours after he appeared on “Saturday Night Live,” where he briefly talked about Dogecoin. He joked that he had bought some dogecoins for his mother for Mother’s Day and he hinted that it was “a hustle” that had no real value, as I explained for the Deseret News. But he did say on the show that Dogecoin would rise “to the moon!”
After Musk’s appearance, investors sold out quickly. Dogecoin dropped 40% by Sunday as people sold off their holdings, CNN reports.