Dogecoin Creator Sold All Coins in 2015 At Value of a Used Honda Civic

You wake up every morning wondering why you didn't buy bitcoins when they were still unknown to anyone? Don't be discouraged, a new era of cryptocurrency already began.

Billy Marcus decided to give up cryptocurrency ownership due to life circumstances and disagreement with the development course of Dogecoin in 2015

SOURCE: FACEBOOK / DOGECOIN

Since the beginning of the year, the price of Dogecoin has grown by 1400%, and its capitalization has exceeded $ 9 billion.

"I'm no longer a part of the Dogecoin project: I left around 2015," Dogecoin creator Billy Markus wrote in an open letter on Reddit. - “... I don’t have any other crypto coins, except those that were recently donated to me. I gave away or sold all the crypto I had back in 2015 ... that was enough to buy a used Honda Civic. "

Dogecoin was created as a joke, so the mania it generated looks surreal, Marcus told Bloomberg. Since the beginning of the year, the price of Dogecoin has grown by 1400% thanks to the hype on Reddit, and its capitalization has exceeded $ 9 billion.

Dogecoin price chart. Source: Coindesk

“I see this nonsense on the Internet that I have all this money. But where are they? ”The programmer asks. - “I'm an ordinary working person. I have no problem, but I am not rich. It's weird to see something that I did in a few hours become part of the internet culture. It's funny to see Elon Musk talking about it. "

Markus does not understand why Dogecoin was soaring and believes that he could be a good barometer of how far the markets have gone from reality. The programmer himself keeps aloof from risky assets and invests all of his money in an index fund focused on the S&P 500 or Wealthfront (a $ 21 billion California asset management company that provides automated investment services).

On Wednesday (02.10), the head of Tesla and SpaceX tweeted that he bought some Dogecoin for his son to become a "baby investor". :D

“People are talking about Dogecoin going up to $1, which will make the market cap bigger than real companies that serve millions like Boeing, Starbucks, American Express, IBM. Does Dogecoin deserve it? I cannot understand it. " 

According to Markus, he was forced to get rid of the cryptocurrency by being fired from his job and the opinion that the Dogecoin community was developing in the wrong direction. Now the creator of the asset does not share the position of DOGE holders that its value should rise to one dollar. He believes that the coin simply does not deserve it.

Markus noted that Dogecoin's "true value" lies in its ability to deliver value. In his opinion, the coin should personify joy, kindness, fun, empathy, creativity and absurdity, but now it only brings a huge headache to Reddit users. 

In early 2015, the altcoin was trading at $ 0.0000276. This year, against the backdrop of attention to the project from the head of Tesla and SpaceX Elon Musk, Dogecoin set a historical maximum value of $ 0.087. For six years, it has risen in price by 315 110%. Capitalization of the asset exceeded $ 8.4 billion.

Contributed by Guest Writer Maksim H. Of Tallinn, Estonia 🇪🇪 

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