Home Blockchain Dogecoin Co-founder Billy Markus Discloses Owning Small Bitcoin Stash Worth $311

Dogecoin Co-founder Billy Markus Discloses Owning Small Bitcoin Stash Worth $311

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Dogecoin Co-founder Billy Markus Discloses Owning Small Bitcoin Stash Worth $311

Jimmy Aki

Last updated:

| 2 min read

Dogecoin co-founder Billy Markus revealed that he owns a small Bitcoin stash on February 14. Markus stated on X (formerly Twitter) that he has just under 0.006 Bitcoin assets to his name. His Bitcoin holding is currently worth $311.21 at press time.

If Bitcoin Hits $100k?

Popularly known as Shibetoshi Nakamoto on X, Markus’ revelation came as a response to a follower who asked if he owned any Bitcoin.

He also pointed out what he would do if Bitcoin eventually ascended to the $100,000 price tag. At $100,000, Markus’ Bitcoin stash would be worth $600.

In the event of Bitcoin’s price reaching $100,000, he said that he would enjoy a meal at the casual dining restaurant Olive Garden.

 

Markus is well known for his often light-hearted and humorous comments surrounding crypto assets. In fact, he is known to have poked fun at other crypto projects by creating Dogecoin in December 2013. It is also not his first rodeo with Bitcoin.

In 2015, Markus said he sold all his crypto holdings, which included Dogecoin and Bitcoin, to buy a used Honda Civic sedan.

This was two years after the launch of the Dogecoin project with Jackson Palmer.

Dogecoin and Bitcoin – Relationship Born Out of Humor

The Bitcoin network’s launch in 2009 heralded the creation of a decentralized financial ecosystem. Adoption was critically slow, however, and the network started gaining popularity three years later, leading to a sporadic rise in the amount of decentralized assets.

Dogecoin’s creation, on the other hand, was born out of a satire targeted at new crypto projects that came into existence after the launch of Bitcoin. This earned the DOGE asset the ‘joke crypto asset’ tag it has worn to this day.

At its core, Dogecoin is a fork of a defunct coin called Luckycoin, which is a fork of Bitcoin.

It also operates using the Scrypt algorithmthe same consensus mechanism deployed by the Litecoin network —another Bitcoin fork.

Regardless, Dogecoin has become a force to reckon with in the industry. Like Bitcoin, it is the premier cryptocurrency in the memecoin ecosystem. It has also caught the fascination of Tesla and SpaceX boss Elon Musk, who became a huge fan of the asset.

Dogecoin has become part and parcel of the X or Twitter community in the last two years. In recent times, Musk paid for a Falcon-1 rocket using Dogecoin.

Meanwhile, the X corp plans to launch a peer-to-peer payment system on their platform using Dogecoin and other cryptocurrencies.

The idea is geared towards unlocking more user utility and new commerce opportunities. The X Payments system is part of the platform’s idea of creating a global online town square that fosters free speech.

Dogecoin’s strong association with X’s owner, Musk, has seen many tout it as one of the payment solutions offered once the X Payments platform goes live.

Bitcoin is continuing to post strong bullish signals at press time. BTC is currently trading at $51,990, up 0.99% in the past 24 hours. Conversely, Dogecoin is trading at $0.085, down 0.32% in the last 24 hours.

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