Bitcoin embarks on an extraordinary BitMEX journey towards the Moon
BitMEX is leading an innovative project in collaboration with Astrobotic, a Pittsburgh-based company, Bitcoin Magazine, and Oxcart Assembly to transport a physical Bitcoin (BTC) to the Moon.
This initiative was initially announced in May 2023 and is now set to take place on Monday, Jan. 8. A privately-built spacecraft will launch from Cape Canaveral Space Force Station in Florida at 02:18 am ET.
The physical Bitcoin, valued at approximately $45,000, will be sent into space on a United Launch Alliance (ULA) Vulcan rocket and integrated into Peregrine-1, a commercial lunar lander.
This upcoming launch will be a series of firsts: it will be the first time Peregrine is launched, the first time a private spacecraft lands softly on the moon, and the first Western soft lunar landing since the 1970s.
Stephan Lutz, the CEO of BitMEX, sees this mission as a historic moment for Bitcoin and blockchain technology. He believes it showcases their potential to establish a financial system beyond Earth.
Once the rocket completes an initial orbit around the Earth, it will set Peregrine-1 on a course towards the Moon. The anticipated arrival date on the Moon is Feb. 23.
Throughout the seven-week lunar orbit phase, a live broadcast will be available to audiences worldwide via NASA TV.
Lutz expressed his enthusiasm for the project, describing the Bitcoin on the Moon as a time capsule representing technological innovation and human achievement. He believes it marks the beginning of a new era in decentralized finance.
Samuel Reed, the co-founder of BitMEX, echoed Lutz’s sentiment. He hopes that this mission will inspire a new generation of pioneers to explore the uncharted territories of technology and finance.
In related news, the owners of ULA, Lockheed Martin and Boeing, are reportedly close to selling the Colorado-based launch company. There are rumors that Blue Origin, owned by Jeff Bezos, is among the potential buyers.
BitMEX’s mission is not the first of its kind. In November 2023, the Dogecoin (DOGE) team announced their plan to send a physical DOGE to the Moon.
This physical meme coin was part of Astrobotic’s first Peregrine Mission (PM1), which aimed to deliver 21 payloads from various stakeholders, including governments, businesses, universities, and NASA’s Commercial Lunar Payload Services initiative.
The cargo also included the original Bitcoin block, known as the Genesis Block, which was sponsored by Bitcoin Magazine.
Previously, Dogecoin was associated with a SpaceX lunar mission funded by DOGE tokens. This project was led by the Canadian company Geometric Energy Corp. and was hailed as the first commercial lunar payload fully financed by DOGE. However, the SpaceX mission was delayed and rescheduled for a launch in January 2024.
While BitMEX’s mission to send a physical Bitcoin to the Moon is an exciting development, Arthur Hayes, the founder and former CEO of the crypto exchange, recently predicted a bearish trend. Hayes expects a significant 20% to 30% correction in Bitcoin’s price, especially if spot Bitcoin ETFs begin trading in the U.S.
In a blog post published shortly before the launch of the physical Bitcoin to the Moon, Hayes stated that he was preparing for a “vicious washout of all crypto tourists in March of this year.” As a result, he declared that he would not buy BTC until well after March.
At the time of writing, Bitcoin was trading at $43,894, representing a 0.2% increase in the past 24 hours and a 3.6% increase over the past seven days.
