Gold Digger’s Guide to the Galaxy: The $700 Quintillion Asteroid
Unveiling the Truth Behind the Cosmic Gold Rush Hype

Imagine a cosmic treasure chest so vast it could turn every human into a billionaire. That’s the tantalizing promise of Asteroid Psyche 16, a metallic marvel orbiting between Mars and Jupiter, rumored to hold gold reserves worth a staggering $700 quintillion. But before you start dreaming of interplanetary riches, let’s unpack the facts, sprinkle in a bit of skepticism, and see if this asteroid is truly the golden ticket it’s hyped to be.
Discovered in 1852 by Italian astronomer Annibale de Gasparis, Psyche 16 is one of the largest M-type asteroids in the asteroid belt, spanning roughly 140 to 220 kilometers in diameter. For years, scientists speculated it might be the exposed core of a protoplanet, packed with precious metals like gold, platinum, and cobalt. In 2019, early estimates pegged its value at $700 quintillion—enough to theoretically give every person on Earth about $93 billion. The figure sparked headlines, fueling visions of a space-age gold rush. But recent research suggests this cosmic jackpot might be more fool’s gold than Midas touch.
