NASA has set its sights on an asteroid that contains enough gold to make all the people on Earth billionaires.

The U.S. space agency is planning to launch a mission to the Psyche 16 asteroid in 2022 to explore the origins of the Solar System. Discovered in the late 19th century, Psyche is located between the orbits of Mars and Jupiter and is composed of solid metal.

In addition to gold, the heavy object is thought to be loaded with piles of platinum, iron and nickel. In total, it is estimated that the various Psyche metals are worth a full ,000 8,000 quadrillion.

This means that if brought to Earth, it would destroy commodity prices and cause the world economy - worth .5 59.5 trillion - to collapse.

An artist's impression of Psyche 16, an asteroid that contains enough gold to make everyone on Earth billionaires

The Psyche 16 has been known for some time, but its potential to cause destruction on Earth was recently touched on by a veteran miner. Scott Moore, who runs EuroSun Mining, said the huge amount of gold on the asteroid threatens to plunge the gold industry into chaos.

"The 'Gold Titans' now control hundreds of the best manufacturing properties around the world," he told Oil Price. "But the amount of gold they bring to market each year fades compared to what is available in space."

NASA is launching a mission to investigate the asteroid in August 2022. Named the Exploration Mission, it will arrive in Psyche 16 around 2026. Fortunately, the space agency is undertaking the trip for scientific purposes and is not planning to create any mine.

NASA thinks the Psyche 16 is a survivor of the violent collisions of impact and direction between the planets, which were common when the solar system was forming. This means that it can show us how the Earth and the nuclei of other terrestrial planets were formed.

Adapted from The Sun.