Crypto

Dogecoin’s Founder Reveals His DOGE Holdings

Why Is Dogecoin in Such a Slump Right Now?

Billy Markus wants people to stop thinking of him as a spokesperson or leader of Dogecoin.

Billy Markus, who co-founded Dogecoin in 2013 as a joke, has just disclosed how much he owns. He claims to own over 220k DOGE, which is worth around $42 000 at today’s values.

Markus (now known on Twitter as “Shibetoshi Nakamoto”) revealed the number in a tweet earlier today while defining his present status in the Dogecoin realm. He stated that he no longer speaks for Dogecoin or works on the project and that he is simply a member of the community.

That isn’t to imply he isn’t enthusiastic:

“Those who, in my opinion, are actively improving the space will be defended.” Those who I believe aren’t will be discouraged.”

Markus’s laid-back demeanor contrasts with that of his co-creator Jackson Palmer, who has often expressed disdain for both Dogecoin and cryptocurrency. In July, he claimed that the entire space accentuates capitalism’s worst qualities, rewarding the wealthy while allowing them to unfairly avoid taxation.

Even when compared to other cryptocurrencies like Bitcoin, Dogecoin distribution is excessively concentrated in the hands of a few rich people. Markus’ numbers, on the other hand, imply that he is not one of them. Though not insignificant, his holdings aren’t large enough to sway the market during a selloff or make him a huge fortune.

Finally, the creator wishes to remove himself from the community’s leadership role, both in terms of influence and accountability.

“I owe not a single individual in this space anything… “However, I enjoy the ones who are having a good time.”

Dogecoin is a cryptocurrency created only for amusing memes.

Markus said that he had no major ambitions in the field, notwithstanding a recent Twitter dispute caused by Block CEO Jack Dorsey. He does not believe, as many members of the crypto community do, that “major breakaways from the corporate establishment” are achievable. He’s solely participating because he wants to “create stuff, make money, and have fun.”

Elon Musk agreed, adding he supports Doge for the same reasons. Both “Metaverse” and “Web 3.0” have been derided by Tesla CEO Elon Musk as buzzwords, meaning that they don’t exist and shouldn’t be taken seriously.

The Author

Samuel Adeshina

Samuel is a financial reporter whose interests include blockchain, market, business, insurance, and Crypto to provide relevant information to all interested.