On January 8, cryptocurrency exchange BitMEX and Astrobotic launched a project to send a hardware wallet containing 1 BTC to the Moon, but the mission now teeters on the brink of failure.
HAPPENING NOW: Our $BTC is off to the Moon on board @ulalaunch’s #VulcanRocket ?
Watch the launch live on our Twitch here ? https://t.co/pX7SSoyXC5#MoonBTC #BitcoinToTheMoon #BitMEX pic.twitter.com/bdr8sv56vO
— BitMEX (@BitMEX) January 8, 2024
Stephan Lutz, CEO of the trading platform, described the Bitcoin on Earth’s satellite as a “time capsule” encapsulating one of humanity’s most “significant innovations.”
“The coin will be a registered payload on board ‘Peregrine-1’ and will remain on the lunar surface until some enterprising soul goes to retrieve it,” he added.
Initially, the shuttle carrying the wallet was scheduled to land on the Moon’s northern side on February 23. However, on January 9, reports emerged of a fuel leak.
‘Peregrine-1’ encountered issues almost immediately after detaching from the launch vehicle. Engineers observed that the lander struggled to keep its solar panels oriented correctly for battery charging, as its alignment mechanism was disrupted due to propulsion system malfunctions.
To maintain its course, the capsule is operating in overdrive, excessively consuming fuel. Astrobotic estimates that the spacecraft has less than two days’ worth of fuel remaining. After that, it will begin “tumbling” through space.
In addition to the Bitcoin wallet, the spacecraft carries NASA research equipment, as well as the cremated remains of astronaut Philip Chapman, ‘Star Trek’ creator Gene Roddenberry, and several actors from the sci-fi series.
Amid the excitement surrounding BitMEX’s space project, the exchange held a trading competition with a prize pool of 100,000 USDT and a chance to win a baseball cap signed by former CEO Arthur Hayes.
As part of the same mission, the Dogecoin community sent a physical wallet with tokens to the Moon.
Since 2021, Elon Musk’s SpaceX has been preparing to launch the Doge-1 satellite, funded by meme tokens. However, the initiative has yet to be realized.