Dogecoin Co-founder Billy Markus Discloses Owning Small Bitcoin Stash Worth $311 – What’s Going On?

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Jimmy Aki

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Jimmy Aki

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Jimmy has nearly 10 years of experience as a journalist and writer in the blockchain industry. He has worked with well-known publications such as Bitcoin Magazine, CCN, and Blockonomi, covering news...

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February 15, 2024

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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.

i have .006

— Shibetoshi Nakamoto (@BillyM2k) February 14, 2024

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.

if bitcoin goes to $100k, i will celebrate by getting dinner at olive garden

— Shibetoshi Nakamoto (@BillyM2k) February 14, 2024

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.

Dogecoin creator co-creator Billy Markus sold all of his crypto holdings (Bitcoin, Doge, and Litecoin) in 2015 to buy a Honda Civic.

Now, Doge is worth more than Honda.

Honda's market cap: 54.52 billion
Dogecoin's market cap: $86 billion

— finance your freedom (@Digitalcashin) May 8, 2021

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 algorithm—the 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.

2023 was foundational ➡️ 2024 will be transformational
Last year, we laid the groundwork to ensure that there is no substitute for X – and we're just getting started 🔥🚀
More below on what we've got in store for 2024👇https://t.co/Jiz1PILgf9

— Business (@XBusiness) January 9, 2024

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.