What if we told you that we could all be billionaires because there is gold in space? Well, get ready, because NASA has identified an asteroid called Psyche that could contain the largest reserve of precious metals in the universe, including gold, iron, and nickel, with an estimated value of 700 trillion euros. Tempting, right?

This massive figure has sparked a wave of speculation about the economic possibilities of space mining, fueling the dream that “we could all be millionaires,” but even though the discovery is impressive, we shouldn’t get ahead of ourselves. Let’s take it step by step, because there’s still a long way to go.

What is the Psyche asteroid?

Discovered in 1852 by the Italian astronomer Annibale de Gasparis, the Psyche asteroid has gone from being just another asteroid to one of the most exciting prospects for science. What was once just another rock in space is now a mine more valuable than the entire economy of Earth. Can you imagine getting access to one of these rocks?

What makes this asteroid special?

Look, anything that comes from space already costs a fortune (haven’t you seen that they auction off a piece of Mars for $4 million?).

Well, according to some studies, between 30% and 60% of Psyche’s volume is made up of metals (iron, nickel, and gold). All of this is mixed with silicates and has an estimated surface of more than 165,000 square kilometers. Just to give you an idea, its value far exceeds the combined GDP of all the countries in the world. For whatever reason, it’s in our interest to intercept it, right?

Where is it located?

Psyche is located between Mars and Jupiter, in the asteroid belt, and it is believed to be the exposed core of an ancient forming planet. It was first discovered in the 19th century by Annibale de Gasparis, but it wasn’t until 2023 that NASA started paying more attention. Maybe because its estimated value reaches 700 trillion dollars (how many zeros is that? Fourteen?)

The Psyche mission

As we said, it was in 2023 when NASA began to take a much greater interest in this piece of rock, thus promoting the Psyche mission, which will use solar-electric propulsion to reach the asteroid after a flyby of Mars. The spacecraft is expected to arrive at its destination in 2029 and, once there, will begin a detailed study with spectrometers, magnetometers, and multispectral cameras.

But wait a second. The mission isn’t meant to make us billionaires (after all, that money would go to the usual people) but rather to understand how rocky planets formed. Could Psyche be one of the original building blocks of our solar system? That’s what they want to find out!

An unreachable treasure?

Sure, the idea of bringing gold from space sounds tempting and gets us excited, but space mining is still in its early stages. It requires a lot of technology and an incredible investment, so for now, exploiting galactic resources is not the plan, even if it sounds very, very attractive.

Of course, there are already people eyeing the idea. Private companies and space agencies are already developing technologies to make it possible. Some experts believe that in the coming decades we’ll see the first mining operations off the planet, but from our point of view, there is still a lot to regulate before that happens.

A new gold rush?

The discovery of Psyche has generated excitement, but also controversy. What would happen if a single mission brought more gold to Earth than the planet’s entire annual production? How would access to those resources be regulated? What countries or companies would have control?

Space mining raises legal, ethical, and environmental challenges that still don’t have an answer. But one thing is certain: the gold in space is already firing up the collective imagination, and it could be the beginning of a new gold rush… this time, beyond Earth’s atmosphere.