Major Setback in the Project to Send Bitcoin to the Moon: Rocket Failure and Fate of BTC Uncertain
The endeavor to physically send Bitcoin to the Moon has encountered a significant setback, leading to dismay among enthusiasts.
A highly anticipated partnership between cryptocurrency exchange BitMEX and private technology company Astrobotic, which aimed to send Bitcoin “to the Moon” in a tangible form, has hit a major roadblock due to propulsion issues with the rocket.
In a recent statement from Astrobotic, it was revealed that the launched rocket failed to reach the Moon and instead veered back towards Earth. As per the official announcement, the rocket, along with the 1 BTC it carried, is expected to burn up in the Earth’s atmosphere, vanishing without a trace.
Prior to this setback, BitMEX had announced its collaboration with Astrobotic to place BTC on a lunar vehicle launched from Florida. However, according to the BBC, Peregrine 1 has been grappling with a fuel leak problem, rendering a lunar landing unattainable.
In addition to BitMEX, the mission encompassed a diverse array of customers, including the United States National Aeronautics and Space Administration, which had secured space on the lander for various experiments.
Despite the disappointment, BitMEX addressed the situation lightheartedly in its statement, sharing a quote from Satoshi Nakamoto regarding lost BTC: “Each lost coin will make the coins of others more valuable, even if they are small.”
*This is not investment advice.