After notching a new lifetime high on Nov. 13, the $90,000 level has remained out of reach as support as the bulls ran out of steam. Now, Billy Markus, the co-creator of the original meme coin Dogecoin (DOGE), is weighing on Bitcoin’s recent run to fresh highs. Markus has also revealed when he intends to liquidate his BTC holdings.
Dogecoin Creator Is HODLing Until $1 Billion BTC
As Bitcoin’s price struggles to secure a foothold above $90,000 while traders bank profits, one Dogecoin creator is not selling.
Billy Markus, aka Shibetoshi Nakamoto, said in a post on the X social media platform that he will not be selling his Bitcoin cache “until it’s at 1 billion dollars each.” However, he told his followers that he holds less than 1 BTC, specifically 0.006 BTC (equivalent to $529 at current exchange rates).
One X user pointed out that Marcus was one of the co-creators of Dogecoin, which now has a total market capitalization of over $52 billion. The Dogecoin founder revealed that he made only around $10,000 from creating DOGE. Markus has previously said that after being fired from work in 2015, he sold his Dogecoin stockpile and some other crypto assets he owned and used the proceeds to purchase a Honda Civic.
Markus and Jackson Palmer created Dogecoin back in 2013 as a way to poke fun at the crypto industry. For something that started out as a joke, Dogecoin has certainly established a legitimate reputation for itself. The canine-themed crypto found a celebrity fan in eccentric centibillionaire Tesla/SpaceX CEO Elon Musk, who started out shitposting about DOGE and is now set to co-lead a new U.S. federal agency called D.O.G.E — yes, really.
DOGE was loitering around $0.15 on election day. Since then, the token has almost tripled in value, almost hitting $0.43 on Nov. 12. When a commentator earlier this week suggested that this time DOGE might actually touch the much-longed-for $1 mark, Markus opined: “Nothing is impossible in the retarded world of cryptocurrency.”
Notably, the $1 threshold has a psychological appeal, triggering a bunch of “Doge to $1” memes in recent years.