Bitcoin and cryptocurrency prices, including billionaire Telsa Elon Musk’s pet project, have been struggling for the past month.
The price of dogecoin, after rising by thousands of percent in the first few months of this year, lost 40% of its value in the last 30 days, falling with bitcoins in a “brutal” sale that wiped out $ 1 billion from the broad cryptocurrency market.
However, Musk, who also runs the rocket company SpaceX, has doubled in a plan announced in April to launch a “literal dogecoin on the literal moon” – declaring a “new space race” after Bitcoin and crypto exchange Bitmex promised to win dogecoin to the moon.
“We don’t mind dog money, but we thought it was right to help bitcoins get [to the moon] first, Seychelles-based BitMex wrote in a blog post outlining a plan to “cut down a one-of-a-kind physical bitcoin … to be delivered to the moon” by space robot company Astrobotic Technology in the fourth quarter of this year. . “
“For all the talk about bitcoin going to the moon, we’re actually going to do it,” BitMex CEO Alex Höptner said in a statement, citing a popular bitcoin and crypto meme that prices are “going” to the moon. . “
“A new space race has begun,” Musk said on Twitter, responding to news of the BitMex plan. Musk, who was elected CEO of dogecoin in a 2019 Twitter poll and enthusiastically accepted the role, plans to launch the “DOGE-1 mission to the moon” early next year.
“Space Race” is the latest development for a turbulent period for bitcoins and cryptocurrency, which has been seen to put digital tokens in the public spotlight.
Musk helped the price of bitcoins reach unprecedented highs this year by adding $ 1.5 billion in bitcoin to Tesla’s balance sheet and allowing Tesla customers to pay in cryptocurrency before giving up bitcoin payments for fears of growing energy needs of bitcoins.
However, it appears that Musk has already abandoned bitcoin for the second-largest cryptocurrency, ethereum, and the mega-based dodgecoin has repeatedly tweeted its support for the Shiba-based Inu and widely alienated the once-adored bitcoin community.
Last week, Musk signaled his support for 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 proposed a radical upgrade of dogecoin, which he said was “necessary.” [for dogecoin] to become the currency of the Earth “- and will mean that it beats bitcoin” hands down “.