NASA is exploring an asteroid that could be the most valuable object ever found in space. It's called 16 Psyche, and it’s full of precious metals like gold, nickel, and iron—worth up to $700 quintillion (that’s 700 followed by 18 zeros!).
This asteroid is located between Mars and Jupiter. Scientists believe it might be the core of an early planet that never fully formed, which makes it a unique chance to study how planets are built from the inside out.
In October 2023, NASA launched a spacecraft called Psyche using a SpaceX rocket. The mission is not to mine the asteroid but to study it closely. The spacecraft is expected to arrive in August 2029, and will orbit the asteroid for over two years.
NASA’s goals include:
Even though Psyche may be worth more than all the world’s economies combined, mining it isn’t easy or even legal right now. Bringing all that metal to Earth could crash the markets and make gold and other metals lose value. This has happened before in history—when Spain brought too much gold from the Americas, it caused inflation.
Mining in space is still far from reality. Some major problems include:
Even if Psyche isn’t mined any time soon, the mission will teach us more about planetary science and space exploration. It could open the door to future missions and possibly even space-based economies.
Whether it’s a golden jackpot or just a scientific treasure, 16 Psyche is one of the most exciting discoveries in space today.
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