Musk: GEC Pays Doge-1 Satellite Rebooking Fee in Dogecoin

Elon Musk Doge Dogecoin

In a new update, Geometric Energy Corporation (GEC), a logistics company, disclosed that they used Dogecoin (DOGE) to cover the rebooking fee for the Doge-1 satellite. This news coincides with the delay in the satellite’s launch, which is now postponed.

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Geometric Energy’s CEO, Samuel Reid, confirmed in a post on X (previously Twitter) that they had to repay the rebooking fee to Elon Musk’s SpaceX using DOGE. This implies that their company had no alternative but to use the meme coin if they wanted to proceed with the Doge-1 mission.



SpaceX Demands Dogecoin Payment for Doge-1 Satellite

It’s unclear why Geometric Energy was required to pay in Dogecoin, but it’s notable that the company initially paid for the Doge-1 satellite launch in Dogecoin back in 2021. This may have led SpaceX and Elon Musk to believe it was appropriate to continue financing the project with the meme coin.

Elon Musk’s SpaceX, the aerospace manufacturer and space transportation company, will oversee the launch of the Doge-1 satellite into lunar orbit. Despite misconceptions, this mission won’t involve sending the Dogecoin token itself into space. Instead, the satellite’s purpose is to display advertisements to Earth while circling the moon.

While this mission doesn’t directly involve Dogecoin, it has piqued the interest of the DOGE community due to its connection with the meme coin. The project’s emphasis on Dogecoin’s utility could potentially have a positive impact on the cryptocurrency once the satellite is successfully launched.

Delay and Future Plans for Doge-1 Satellite Mission

Geometric Energy Corporation’s CEO, Samuel Reid, disclosed during a live voice chat on Telegram that the Doge-1 mission would face a delay. This delay prompted Geometric Energy to pay the rebooking fee, as the satellite will no longer launch as a rideshare payload with Intuitive Machines’ IM-1 mission.

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Reid attributed the delay to ongoing work on some of the satellite’s equipment. Once this work is completed and the necessary approvals are obtained, the satellite is expected to be transported from the United Kingdom to the United States.

It’s noteworthy that Geometric Energy Corporation has already secured approval and licensing for the satellite launch from the National Telecommunications and Information Administration (NTIA) and the Federal Communications Commission (FCC), respectively.

However, Reid did not provide a specific timeline for the new launch date of the Doge-1 satellite. He only mentioned that it is likely to launch with the IM-2 mission or another SpaceX mission, depending on when the satellite is shipped to the US.


Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

 

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  • Asad

    Asad is a dynamic and talented cryptocurrency content author who brings a wealth of knowledge and enthusiasm to every article. With a deep understanding of blockchain technology and a passion for digital assets, Asad's writing is both informative and engaging.

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