Asteroid Psyche contains more minerals than all the money in Earth can buy
Out in space, the asteroid Psyche contains minerals so rich that, literally, all the wealth in the world may not be able to buy it if it were on sale.
According to GQ, out there in outer space is an asteroid fully loaded with minerals that not all the money on Earth can buy. However, the National Aeronautics and Space Administration (NASA) will still try to reel it in and mine it for all its worth in about seven years’ time. Psyche, as the asteroid is named, is still flying in the beltway between Mars and Jupiter.
Its 28 kilometers of rock are loaded with iron, nickel, and other precious and base minerals that mining companies may be hard-pressed to find in our world. Should NASA succeed in its extraction, in more ways than one, the value of the asteroid’s entire yield will amount to $10,000 quadrillion. Or, to make it easier, $10 with 18 zeroes following it.
The irony is, while NASA’s best minds are trying to figure out how to bring Psyche into our general area of responsibility, not all the money in all of the world’s treasury can afford the treasures inside it. If all the currency owned by every single individual in every nation on earth were accumulated, compiled, and calculated, the total amount would be $78 trillion. It is a huge amount of money by any standards but it only comprises .00078 percent of the entire value of the minerals that are locked inside the asteroid.
What can tip the scales, though, is the usual and planet-bound law of supply and demand. The metals are valuable because they are rare. Governments and private mining companies cannot have enough of them. Neither do the firms that put up buildings, power generators, and raise up telecom structures. However, swamp the market with tons of nickel and iron, and the rarity will disappear. With more than enough to go on, the premium status of the minerals vanish and the price can plummet to what may be simply affordable.
[Week 23] The TopRanked.io Weekly Digest: What’s Hot in Affiliate Marketing
This week we're bringing you top-secret CIA know-how on hacking people's minds and bending them to your will. And if...
Large Traditional Banks Manage 75% of Spanish People’s Investments in Funds
There are three main reasons why Spaniards prefer traditional banks to manage their investments. The first of these is due...
Atomic Wallet Hack: Stolen Cryptocurrencies End Up at North Korea-Linked Coin Mixer
As the aftermath of the Atomic Wallet hack unfolds, it highlights the ongoing challenges associated with securing crypto assets and...
Italian Parliament Will Work on Regulating the DLT Market
The integration of DLTs into corporate law starting with the representation of financial products and instruments in digital form is...
Ibions Seeks Investors and Anticipates Revenue of €1.5 Million in 3 Years
The objective of this first round of investment is to complete the development of the platform through which the company...
Crypto1 week ago
Dogecoin: Doge Whales Return Due to Bullish Metrics
Crowdfunding2 days ago
Infinityhub Launches Crowdfunding Campaigns to Finance Redevelopment of Student Housing in Naples
Business1 week ago
The TopRanked.io Weekly Digest: What’s Hot in Affiliate Marketing [Week 22]
Africa2 weeks ago
Seeds for Sustainable Energy: Startups Awarded by Eni in Kenya
You must be logged in to post a comment Login