The 16 Psyche Asteroid Could Make Everyone A Billionaire

Grace Higgins | July 8th, 2019

There is a giant golden asteroid that flies around space carrying enough heavy metals to make everyone on Earth a billionaire. There is so much precious metal on this asteroid that NASA is even planning an attempt to reach it on 2022.

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Known as Psyche 16 the asteroid is found between the orbits of Mars and Jupiter, unlike other space asteroids, this one is formed completely of solid metal. And it is not only filled with gold, but this mysterious space object is also packed to the brim with platinum, iron, and nickel.

There have been some estimations that would be the total of Psyche’s various metals around the worth of $10,000 quadrillion. This means that if ever a company figured out how they could transport this asteroid to Earth, it would cause the world’s economy to collapse. This is because most of our economy still use commodities as a store of value. And if you think that currently the world’s economy is valued at around $80 trillion, then this amount of gold and other precious metals turning up on the market would simply cause a collapse.

The asteroid Psyche 16 has been on the radar for quite some time, but the potential to cause complete havoc to the world’s economy was really only touched on by a veteran miner. Scott Moore who is the CEO of EuroSun Mining said that the huge amounts of gold found on this asteroid would cause the gold industry to fall into chaos.

This is because on a yearly bases mining companies find around 4 to 5 million ounces of gold, which is a really small amount compared to the tons we would discover on this asteroid.

NASA has announced a mission that will probe the billionaire asteroid in the summer of 2022. However, given the vast distance, the probe has to travel it will not arrive until around 2026. Luckily for the world’s commodity markets, NASA is taking the journey solely for scientific reasons and has not planned to take out any space mining.

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