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In February, Tesla announced that it has invested $1.5 billion in Bitcoin and also disclose that it would start accepting Bitcoin as payment for buying its cars. Now, another Elon Musk-led company is following the same path with Dogecoin.

SpaceX

SpaceX will be launching the “DOGE-1 Mission to the Moon” in the first quarter of 2022 and the company will be accepting cryptocurrency dogecoin as payment, according to Elon Musk in a tweet.

ELon Musk Tweet on Dogecoin

The development follows a tweet by Elon Musk in April that SpaceX was going to put a “literal Dogecoin on the literal moon”.

Canadian engineering firm Geometric Energy Corporation has partnered with SpaceX to launch its DOGE-1 CubeSat to the Moon in the first quarter of 2022. The mission will launch aboard a Falcon 9 rocket. The 88-pound CubeSat will collect “lunar-spatial intelligence” through a combination of cameras and sensors, says the company.

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In the statement released by Geometric Energy, SpaceX Vice President of Commercial Sales Tom Ochinero said: “This mission will demonstrate the application of cryptocurrency beyond Earth orbit and set the foundation for interplanetary commerce.”

Dogecoin lost more than a third of its price on Sunday after Musk called it a ‘hustle’ during his guest-host spot on the “Saturday Night Live” comedy sketch TV show.

$100 Worth DogeCoin 2 Months ago Now Worth $2000

For those who are unaware, DogeCoin has experienced tremendous growth over the last year. As of May 9, 2020, it was valued at $0.0026, and today valued at $0.7223 just a year later.

Dogecoin 1

Earlier in February, Elon musk tweeted “Dogecoin is the people’s coin”, “No need to be a gigachad to own. “No highs, no lows, only Doge.” Dogecoin was traded at $0.05229 then February 2021.

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As at the time of writing this report, the value of one Doge is $0.6776, heading towards $1. For those that committed $100 last year May, their investment is expected to worths over $2,000 now.

Dogecoin is now the fourth most valuable cryptocurrency in the world with a market cap of over $85 billion. Only Bitcoin, Etherium, and Binance Coin have higher market caps.

 

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