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HomeTrendingElon Musk's SpaceX Now Accepts Dogecoin For Satellite DOGE-1

Elon Musk’s SpaceX Now Accepts Dogecoin For Satellite DOGE-1

Elon Musk has always been the one promoting cryptocurrency.  And his company SpaceX announced that they’d be accepting the new cryptocurrency Dogecoin to launch their upcoming satellite to the moon.

SpaceX Satellite To Acquire Lunar-Spatial Intelligence 

As per the latest reports, Elon Musk’s SpaceX will now be accepting the cryptocurrency Dogecoin to launch their upcoming satellite DOGE-1 to the Moon. The satellite is a CubeSat to acquire the lunar spatial intelligence which would use onboard cameras and other sensors.

Currently, the satellite is being developed by the Geometric Energy Corporation and will be flown on board a Falcon 9 rocket. The satellite is expected to be launched by the first quarter of 2022.

ALSO READ:-Elon Musk to Extends Support To Meme-Based Cryptocurrency Dogecoin

Vice President of Commercial Sales at SpaceX, Tom Ochinero said that they are excited to launch DOGE-1 to the Moon. Elon Musk, CEO of Tesla hosted the Saturday Night Live Show on TV and promoted Dogecoin.

Dogecoin is the fourth-largest cryptocurrency by market value. He had earlier vouched with Bitcoin and now supports Dogecoin cryptocurrency. He once even called himself “Dogefather”.

Dogecoin is a cryptocurrency invented by software engineers Billy Markus and Jackson Palmer. They wanted to create a payment system and nearly 113 bitcoins have already been mined. Reports suggest that Dogecoin has surged more than 659 percent this year.

Tesla Invests $1.5 Billion in Bitcoins 

Earlier this year, Tesla announced that they would be investing $1.5 billion in Bitcoin. They said that it would give them more flexibility to further maximize returns on their cash.

They also said that they will start accepting payments in bitcoin in exchange for their products. This move comes after the company had more than $19 billion in cash and cash equivalents at hand by the end of 2020. Elon Musk was also credited for raising the prices of Bitcoins and Dogecoins in the market after he encouraged people to buy them.