Bitcoin is going to the Moon!

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By A D

In the fall of 2023, Elon Musk’s SpaceX and LunarCrush will work together to send a bitcoin wallet’s private key to the moon. 62 Bitcoins will be included in the SpaceX rocket carrying the private key. The wallet’s security has been guaranteed by cryptocurrency firm LunarCrush, which has stated that the event aims to “inspire people to establish networks that will unlock a new era of exploration.” The wallet is openly accessible to add more funds to. LunarCrush is collaborating with the animation studio Golden Wolf and the provider of Bitcoin developer tools Hiro to launch a NFT collection, to raise funds for the project.

“It’s like Willy Wonka’s ‘golden ticket’ for the Web3 era, and we couldn’t be more excited to see how it all unfolds.”

Joe Vezzani, CEO of LunaCrush

By creating a sort of treasure hunt, LunarCrush adds some excitement to this momentous event. June will see the launch of the SpaceX Falcon 9 rocket carrying the rover and its cryptocurrency haul. When the rover’s mission is finished, it will be handed up to any interested crypto users.The Bitcoin bounty, known as Nakamoto 1, will go to the first person to reach the moon and get the private key for a cryptocurrency wallet etched on the Lunar Outpost MAPP Rover.

The MAPP rover’s purpose goes beyond serving as a glorified crypto vessel. Developed by SpaceX, its true goal is to advance commercial spacefaring infrastructure and capabilities as part of NASA’s Tipping Point initiative. This includes having Nokia establish the first 4G network on the Moon.

Crypto’s Moon Connection

The expression “to the moon” is often used in the cryptosphere. Within the cryptocurrency world, particularly among investors and traders, the expression “to the moon” is widely used. A cryptocurrency is considered to be “mooning” if there is a large upward market trend, a term that is widely employed as a verb. The expression “to the moon” frequently connotes a firm belief that the price of a specific cryptocurrency will shortly rise substantially.

Few instances of crypto going “to the moon”,

  • The rise in cryptocurrencies’ and Bitcoin’s value during the 2017 bull market was most evident in this phenomenon.
  • In May 2021, Dogecoin’s (DOGE) price jumped from $0.01 to more than $0.70.
  • From January to October 2021, the value of Ethereum (ETH) rose from less than $1,000 to about $5,000.

Although used to convey an optimistic outlook on the future price of a particular cryptocurrency and can be exciting and motivatng for crypto enthusiasts, it is important to approach it with caution. Crypotocuurency markets are notoriously volatile, and there is always a risk of significant price fluctuations or even complete market crashes. Because there isn’t always a distinct upward tendency, the phrase “to the moon” seems overdone. It’s crucial to keep in mind that a lot of cryptocurrency enthusiasts and influencers use the phrase to persuade others online via social media that a specific coin or token is about to fly to the moon. The majority of them are actually just “shilling their bags,” or trying to influence the markets to favour their assets.

Related Article: This Week in Bitcoin

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