Home / Business / ‘A New Space Race Has Begun’ Amid Crypto Price Chaos, Elon Musk Doubles Down on Dogecoin Plan to Beat Bitcoin to the ‘Moon’

‘A New Space Race Has Begun’ Amid Crypto Price Chaos, Elon Musk Doubles Down on Dogecoin Plan to Beat Bitcoin to the ‘Moon’

Bitcoin prices and cryptocurrencies, including dogecoin, Telsa billionaire Elon Musk’s pet project, have struggled over the past month.

The dogecoin price after surging thousands of percent in the first few months of this year. It lost 40% of its value over the past 30 days, slumping along with bitcoin in a “brutal” sell-off that wiped out $1 trillion from the broad. cryptocurrency market

However, Musk, who leads rocket company SpaceX, added two plans announced in April to place “literally dogecoin on the moon,” announcing that a “new space race has started” after bitcoin and exchanges. crypto Bitmex vows to beat dogecoin to the moon

MORE FROM FORBESElon Musk reveals surprising support for the plan ̵

6;Amazing’ Ethereum Co-Founder to Upgrade Dogecoin Rival Bitcoin ‘Joke’

“We are not against dog money. But we feel it is right to help earn bitcoin bitcoin. [to the moon] Firstly, BitMex in Seychelles wrote in a blog post. In summary, plans to “create a unique real bitcoin … that will be sent to the moon” by space robotics company Astrobotic Technology “in Q4 of this year.”

“For all the talks about bitcoin going to the moon, we actually do it,” BitMex Chief Executive Alex Höptner said in a statement alongside the announcement. in reference to the popular bitcoin and crypto meme that prices are “going” towards the moon.”

“A new space race has begun,” Musk said on Twitter in response to news of the BitMex plans. Musk, who was named dogecoin CEO in a 2019 Twitter poll, has enthusiastically accepted the role. It is planning to launch a “DOGE-1 mission to the moon” early next year.

The “space race” is the latest development in a turbulent time for bitcoin and cryptocurrency. That saw digital signals go into the public limelight.

Musk helped the bitcoin price reach unprecedented levels this year by adding $1.5 billion worth of bitcoin to Tesla’s balance sheet and allowing Tesla customers to pay with cryptocurrency before abandoning bitcoin payments. Due to concerns about bitcoin’s growing energy demand

MORE FROM FORBESElon Musk Makes Sensitive Dogecoin Price ‘Predictions’ and Hits Bitcoin Again Amid Claims ‘Truth for Crypto Citizens’

However, it appears Musk has now abandoned bitcoin for ethereum, the second largest cryptocurrency, and the meme-based dogecoin has repeatedly tweeted that he supports the Shiba Inu-based token and puts the ever-popular Bitcoin community in the loop. strangely wide apart

Last week, Musk signaled his support to ethereum co-founder and de facto leader Vitalik Buterin, who suggested “linking” dogecoin and ethereum to speed up transaction times and reduce fees.

In May, Musk offered a radical upgrade to dogecoin, which he claimed was “necessary. [for dogecoin] to become the currency of the world”—and means it wins bitcoin “with empty hands”.

Source link