By: Barlaman today

NASA has launched a mission to 16 Psyche, a metal-rich asteroid believed to hold iron, nickel, and gold worth up to USD 700 quintillion (USD 700 million trillion). The spacecraft, which began its journey in October 2023, is expected to reach 16 Psyche in 2029, not to mine the asteroid, but to scan and study its composition, The Pulse reported. The mission will gather critical data before any future attempt is made to extract resources.

The asteroid is located in the main belt between Mars and Jupiter and is a prime candidate for space mining. Scientists believe Psyche is the exposed core of a failed planet, making it rich in precious metals.

The value estimate sparked global excitement and alarm in 2019, with headlines imagining a world where “everyone becomes a billionaire.” Experts warned, however, that flooding Earth’s markets with asteroid metals could crash economies and disrupt global trade.

NASA has identified more than 1.3 million asteroids in the solar system. Some, like Psyche and 241 Germania, are thought to be remnants of early planets. Others, like Bennu and Ryugu, may hold clues about the origin of life on Earth.

Asteroids are also a threat. In 2022, NASA’s DART mission successfully redirected a small asteroid, proving that planetary defense is possible. Psyche’s study will aid future mining missions and deepen our understanding of planetary formation, resource distribution, and Earth’s vulnerability in space.

Asteroids like Psyche carry more than gold. They hold risks, history, and the potential to reshape the world.