Dogecoin (DOGE) is one of the most popular digital assets and the 10th largest cryptocurrency by market capitalization, according to CoinMarketCap data. Like nearly every other token, its value can fluctuate heavily depending on market sentiments and other metrics. Nonetheless, many people made quite a fortune from Dogecoin investments during its bull run.
Nearly every meme coin ranking will have Dogecoin as one of the most popular or best assets to buy or invest in. Due to DOGE’s success over the years, many have wondered whether or not its creators have enjoyed the same level of success from the asset, which has now grown to become the 10th largest cryptocurrency by market cap.
Dogecoin’s History
Dogecoin was created as a joke by software engineer Billy Markus from Portland, Oregon, and his friend Jackson Palmer, both working at IBM and Adobe Systems, respectively. The asset is generally considered the first meme coin and the first dog-themed coin, featuring the face of the Shiba Inu dog from the “doge” meme, which was popular back in 2013. Markus and Palmer created DOGE using technology from Litecoin (LTC), which itself is a fork from Bitcoin (BTC).
Dogecoin began to gather a strong online community and became more popular despite its original intent as a joke to make fun of Bitcoin. Markus and Palmer launched the asset on December 6 and saw it spike 300% by the 19th. However, it wasn’t until 2019 that major exchange Binance listed DOGE. On May 5, 2021, Dogecoin hit its peak market capitalization of $85 billion.
How Much is Billy Markus Worth?
Many assume Billy Markus is wealthy because of Dogecoin’s impressive success. Understandably, Ethereum co-founder Vitalik Buterin became the world’s youngest billionaire at 27 in 2021 after Ether (ETH) crossed the $3k mark. However, the Billy Markus case is very different as his work on DOGE did not lead to wealth. Markus officially left the Dogecoin project in 2014, choosing to remain isolated from the pressure of public life and the expected popularity he’d face as a result of founding the project. When he left, Markus sold most of his DOGE and used it to buy a Honda Civic.
Despite departing Dogecoin, people still wonder about his net worth. Last November, Markus posted a comment on X (formerly Twitter) about an article that estimates his net worth to be $5 million as of 2023. In his response, Markus said the article is false because his net worth is “well under a million dollars.” Markus’ post also included a screenshot of the article, which specified that the DOGE founder has “no interest in making money.” Markus countered this, stating that he is very interested in earning well. He also added that “if i did have 5 million dollars tho, I would be wayyyyy more chill about money.”
Markus and Palmer After Dogecoin
While both co-founders left Dogecoin not long after its launch, they have taken different approaches. Palmer has left crypto altogether and become a vocal industry critic. In a Twitter thread, he described crypto as “an inherently right-wing, hyper-capitalist technology.” He noted his belief that crypto helps certain entities increase their wealth by forcing artificial scarcity, avoiding tax, and reducing regulatory control. These factors are some of a few popular arguments noted by crypto critics who argue against widespread crypto trading and investment.
On the other hand, Markus is warmer toward crypto. Although he said he was abandoning crypto for good, Markus returned to DOGE years ago, announcing on Twitter that he purchased a few tokens.
Categories: News
Source: thpttranhungdao.edu.vn/en/
