SpaceX, the space exploration company founded by Tesla CEO Elon Musk announced last day that it will fund its mission to launch a satellite(named DOGE -1) to the moon exclusively by Dogecoin. Most of the price increase of he Dogecoin can be attributed to Musk’s tweets regarding the same. Even the falls too. Recently, when he was on the SNL, he called Dogecoin a “hustle” after which it fell 30% in value. This announcement “seems to be designed to fight back against that narrative” according to the Verge.
The mission is being sent and paid for by a company named Geometric Energy Corporation, whose CEO says the transaction “solidified DOGE as a unit of account for lunar business in the space sector.”
Meanwhile, Elon Musk, who announced in March that his company will accept Bitcoin as a payment for buying Tesla Cars, yesterday tweeted that it would suspend the policy until any sustainable way to mine Bitcoin comes about.