Multiple sources say that NASA is going after an asteroid that could make billionaires of us all. Now, wouldn't that be nice? The heavenly body that could make everyone in the world afford private jets and yachts goes by the name Psyche 16, and it is a solid 'golden egg' that is between Mars and Jupiter.
The price of the precious metal in this asteroid is apparently about $10,000 quadrillion. To put this into perspective, the global economy is worth $75.5 trillion. So yes, the potential for this hunk of rock to make us stinking rich is incredibly real.
But don't get your hopes up just yet.
For instance, at the moment, the lucrative value this asteroid is worth is not NASA's top priority. Instead, if the popular organization was successful in capturing Psyche 16, the focus would be finding out if it could offer any additional insights into how our solar system came to be. Yes, there are still unanswered questions about this.
The asteroid does not just have gold. Besides this valuable metal, it has other precious metals as well, including platinum, iron, and even nickel.
What are the chances that this gold would actually end up in the world's precious metals market?
According to Scott Moore, a seasoned miner, and the chief executive officer of EuroSun mining, asteroids could soon be the next major challenge for miners since the resources we have here on earth keep dwindling.
So, mining precious metals in space is certainly something that is worth serious consideration, and rightly so.
For instance, compared to the amount of gold in this asteroid, the 4 to 5 million ounces the so-called "Titans of Gold" bring into the gold market every year is nothing to write home about. These guys also control hundreds of the most productive precious metals properties around the globe.
In comparison, space has significantly higher amounts of gold. That is why industry experts like Moore think this might be the next frontier for miners. The next gold rush could very well involve a trip to space.
In fact, Moore claimed that mining precious metals in space will be "the next boom industry." He admitted this during an interview with the BBC. But these astronomical fortunes, he opines, are for those courageous enough to "rise to the challenge" and cash in on the asteroid gold rush.
As of yet, it hasn't happened, and given how things are going at the moment, it might take a while before this industry takes off.
First of all, as many people can imagine, mining asteroids will not be easy. There are a number of hurdles along the way. For instance, NASA will launch in 2022 in their attempt to get to the asteroid.
And even though that might seem like a close enough launch date, they will have to spend years orbiting the asteroid before they can actually land on it. That means there is a long way before this space gold finds its way into your local bank's vault.
But it's certainly interesting thinking about it.