'Golden' Asteroid: NASA plans a mission to Psyche 16 - the asteroid which could make everyone on Earth a billionaire

Scientists have finally cracked the secret to unlimited wealth - an Asteroid.

Confused?

As per space news agencies, NASA is currently planning a mission to reach the Asteroid - Psyche 16 by 2022. What distinguishes this asteroid, which is nestled between the orbits of Mars and Jupiter, is that it is made of solid metal including gold, platinum, iron, and nickel, enough to make every person on earth a billionaire if mined.

Calculating the metal worth of the asteroid, scientists and miners have revealed that the total networth of Psyche's various metals is almost £8,000 quadrillion - which can cause major havoc to the global economy.

Talking about the effects of possibly mining the asteroid on the gold industry, Scott Moore the head of EuroSun Mining has said to reporters, that the sheer amount of gold in the asteroid threatens to throw the gold industry into chaos.

"The 'Titans of Gold' now control hundreds of the best-producing properties around the world. But the 4-5 million ounces of gold they bring to the market every year pales in comparison to the conquests available in space," he said in an interview.

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While NASA is planning a mission to study the scientific properties of the asteroid and not conduct any mining, major space mining companies are gearing up for a gold rush after asteroid ownership was made legal in 2015.

Astronomers have claimed that it would take around 25 years to get ‘proof of concept’, and 50 years to start commercial production for extraction of gold from the asteriod, as per a space journal.

Nevertheless, Asteroid Mining is already prevalent and Allied Market Research estimates that it will top $3.8 billion by 2025. While China has vowed to dominate this race with an economic goal in mind, the US is focussed on space research. Major European mining companies like  EuroSun, Arianespace are all set to get there first, if and when Psyche comes to earth and is opened up.

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Netizens have expressed their dismay at how worthless gold is now in comparison to Psyche 16.