“Golden Asteroid” That Could Turn Everyone Into A Billionaire Will Be Studied By NASA

By Mayukh Saha / Truth Theory

The easiest way for you to be a billionaire is to figure out the way to go to space and mine an asteroid called “16 Psyche” which is apparently made up of gold and metals like nickel and iron.

The asteroid is currently flying somewhere near Mars and Jupiter and is estimated to be about $700 quintillion in value, all thanks to its metallic ingredients.

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If you are wondering about what a quintillion is, it is basically a number with 18 zeroes behind it. The amount is so large that if you divide 1 quintillion among all the people on Earth, every person would get approximately $93 billion.

Mining An Asteroid Might Not Be As Easy As You Think

The prospect of mining this asteroid might not be as easy as you think, as such a feat has not been done yet, even on smaller scales. 16 Psyche is a huge asteroid that has a diameter of about 200kms or 120 miles and can be considered to be a large one, considering others in the same asteroid belt.

Professor Zarnecki, who belongs to the Royal Astronomical Society, has estimated that we might be 50 years away from carrying our mining apparatus, of that enormous size. NASA has planned to send its Discovery Mission to 16 Psyche in 2022, which is estimated to arrive there before 2026.

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Skeptics, like Peter Schiff, do not believe that the asteroid is made up of such expensive elements, and had tweeted that it might be made up of nickel and iron entirely, with small amounts of gold on it. He believes that the news was out there just to help bitcoin, as the prices of gold would go down then.

Several other questions have also arisen if such an asteroid is hypothetically filled with such expensive elements, can it crash our planet’s economy. Our economy is at around $75.5 trillion, which is tiny compared to the value of 16 Psyche.

Scott Moore, who is the CEO of EuroSun Mining, stated that the best gold-producing properties were controlled by the “Titans of Gold” but the amount of gold that they were bringing to the market paled in comparison to the amount offered by space.

Thinking about obtaining expensive metals from space might offer some major altercations but our requirements for metals might be completely different, in the next decade.

Annibale de Gasparis discovered 16 Psyche, back in 1852, and named the asteroid after Psyche, which is a Greek myth. 

Other Mining Opportunities For Us

There are several other mining opportunities for Planet Earth, besides this rock. Moore pointed out that 16 Psyche might be considered a “Holy Grail” for gold in space exploration but asteroids that are closer should be the first targets for mining. Our moon can also be a great alternative as it bears platinum, gold, and other rare metals.

Deep Space Industries and Planetary Resources have jointly planned to mine UW!%* asteroid, which is estimated to be around $5.7 trillion.

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Morgan Stanley has projected the world’s space economy to be worth around $350 billion, which can eventually grow into trillions by 2040.

US, Japan, China, and Luxembourg are in the race and have registered 10 space-mining companies.

Image Credit: Maxar/ASU/P. Rubin/NASA/JPL-Caltech