Billy Markus created Dogecoin, based on the popular Doge Shiba Inu meme, in “about two hours” in 2013. Initially, the asset was intended to be a parody of the world’s biggest cryptocurrency, Bitcoin, but Dogecoin has since amassed a market cap of over $25 billion.
Billy Markus, the co-creator of the multibillion-dollar meme, has revealed the amount of Dogecoin he owns. Naturally, there was widespread belief that the co-founder of the 12th biggest crypto would have a whale-sized stash of DOGE.
Not a Whale Nor a Representative
In a recent interview, Markus revealed that, contrary to popular belief, he owns approximately 220k DOGE, worth around $42,000 as of this writing.
The Dogecoin founder further clarified his place in the pioneer meme coin project. According to Markus, he is now just a Dogecoin community member.
He adds that he doesn’t speak for or work with the Dogecoin Foundation and as such, he shouldn’t be considered a representative of the project.
How is the Founder of Dogecoin not a Whale?
Struggling to come to terms with DOGE’s recent gains, Billy Markus disclosed to a Reddit group that he sold his Dogecoin stash in 2015 for the equivalent of “a used Honda Civic.”
According to Markus, this happened after he was laid off and felt scared in regards to his dwindling savings at the time. In June 2015, Dogecoin was valued at around $0.00018. At the time of this writing, DOGE is trading at $0.189, having gained by approximately 1,000 times since then.
On the Flipside
Why You Should Care
The story of Billy Markus is one HODLers would love to draw lessons from – keep your stake regardless of what should happen.