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Thursday, May 23, 2024

Dogecoin Co-Creator Billy Markus Holds Just $42K in DOGE

Billy Markus is no Dogecoin whale, and wants people to quit thinking of him as a leader or representative.

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Billy Markus (Popularly knows as “Shibetoshi Nakamoto” on Twitter), co-creator of the Dog based meme cryptocurrency Dogecoin, remind his followers that he does not speak on behalf of Dogecoin nor work on the project anymore.

He is just a community member like others, he revealed the his Dogecoin holding which is 220K (roughly worth $42K). Markus posted a Twitter thread and said that – “I am not on the project. I am a community member. I hold about 220k doge.”

Furthermore, Markus added that he will never return to coding his creation. “Working on a crypto project is terrible,” he wrote, “as I have actually found the more you do for people, the more entitled they get and worse they treat you.”

Despite his frustrations, Markus says he respects the developers who have contributed to the Dogecoin project and making the project better – “I will defend those who I feel are actively making the space better,” he said. “I will discourage those who I feel aren’t.”

Markus’s casual attitude differs from co-creator Jackson Palmer, who has repeatedly shown disgust with both Dogecoin and crypto. In July, he said that the entire crypto space amplifies the worst aspects of capitalism, enriching wealthy figures further while allowing them to unfairly escape taxation.

Dogecoin distribution is indeed highly concentrated in the hands of a few wealthy holders, who are popularly known as crypto whales. However, Markus’s numbers would indicate that he is not one of them.

This year, Markus said that he sold all his cryptocurrency holdings in 2015 for an amount equivalent to what a used Honda Civic would cost. At the time, Markus liquidated his entire cryptocurrency portfolio for nearly $10,000.

 

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