Key highlights:
- Dogecoin co-founder Billy Markus sold all his Doges in 2015 due to financial problems
- Markus is surprised in the interest in Dogecoin from Elon Musk
- The founder doesn’t see any fundamental value in Dogecoin to go to $1 per coin
Dogecoin co-founder Billy Markus has disclosed that he sold all his coins in 2015, and the money he earned from the selling was enough to buy a second-hand Honda Civic. Markus spoke with the Dogecoin community via Reddit and explained what led to the creation of Dogecoin. He referred to the history of Dogecoin and confirmed that the coin started as a joke.
Markus claimed that he got out of the project in 2015 because of the pressure from the community. He also added that he didn’t like the direction of the community at that time. Markus talked about losing his job in 2015, forcing him to sell his Dogecoins due to financial issues. He explained that the total money he earned from his coins was equivalent to a second-hand Honda Civic price.
The recent Dogecoin bull-run is strange for Markus
The recent surge of Dogecoin is strange for Markus. He sees no value in Dogecoin to have a market cap as big as companies like Starbucks and IBM who serve millions of people. He thinks the movement to pump Dogecoin to $1 is absurd, and a meme coin that was created in 2 hours can’t be that valuable. He believes the real worth of Dogecoin is related to its community and its potential for compassion, kindness, and humanity.
Markus thinks the interest from Elon Musk is strange. Musk had tweeted about Dogecoin, and he has described it as crypto for people. He has jokingly described himself as the previous CEO of the project. Musk pumped Dogecoin hard, Markus thinks Musk’s interest in the project is not real. He thinks it feels silly that Musk talks about the project, and causes big price surges.
The recent story of Dogecoin indicated that there’s enormous hype surrounding cryptocurrencies, and many people don’t understand the technology well. When people put their money in a meme coin, we can easily conclude that they don’t have a lot of knowledge about the technology.
