Billy Markus stands as the founder of Dogecoin, and has recently revealed that he had sold his entire supply of DOGE back in 2015, doing so for money equal to a used Honda Civic.
Markus Bugging Out Of DOGE In 2015
This was revealed through an open letter he posted on the r/dogecoin subreddit. Markus posted this letter earlier this week as he wanted to introduce himself to the community’s new members. He tried to outline the so-called “true value” of DOGE in his eyes, coming as a direct response against the chaos that was Dogecoin’s 900% rise since late January.
The post itself saw Markus detail his love-hate relationship with Dogecoin, as well as the history in general. It all started back in 2013, when the coin itself was started as a joke back in 2013.
By 2015, however, Markus stopped down from the cryptocurrency, thanks to his community harassing him online. Furthermore, he wasn’t comfortable with the community’s general direction. That same year saw Markus hit financial troubles after he lost his job, which made him decide to cash in on his DOGE.
Some Big Questions Markus Is Asking
He explained that he had either sold or given away all his crypto that year. In his words, the amount of money he gained from all of this, was enough to buy himself a used Honda Civic.
Now, however, Markus was forced to question DOGE and its true value, even when this catastrophic rise in value meant little to him overall. In Markus’ statement, he highlighted his inability to comprehend discussions going on that DOGE would rally up to $1.
The reasoning is that should this coin, based on a meme from almost ten years ago, reach this price, the asset at large would boast a market cap akin to many leading companies in the US. His big question was, whether or not DOGE even deserves to achieve this. The problem is that he has no idea.
The Community Is What’s Important
Markus, a good-hearted idealist that he seems to be, asserted that DOGE has no meaningful monetary value. Instead, he asserted that it’s the community and its potential to do good that gives it value. He hoped his former community should go out to embody kindness, joy, empathy, fun, as well as sheer absurdity and creativity. In his eyes, only then would DOGE be showing its true value.
It’s a sad sight to see that the creator of DOGE no longer has the ability to truly reap the rewards of the world pumping his coin to oblivion. Markus had lofty ideals, possibly too well intended for the world at large, but time will tell if DOGE is capable of maintaining the value it’s gained so quickly.