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Billy Markus – the man who co-created Dogecoin as a joke in 2013 – has just revealed how much he holds. He said he owns approximately 220k DOGE, worth around $42 000 at today’s prices.
Shibetoshi Speaks
Markus (currently “Shibetoshi Nakamoto” on Twitter) dropped the number in a tweet earlier today while clarifying his current role within the Dogecoin space. He said that he does not speak for Dogecoin, nor work on the project anymore – but is simply a community member.
That’s not to say he isn’t supportive, however:
“I will defend those who I feel are actively making the space better. I will discourage those who I feel aren’t.”
Markus’s more casual attitude differs from his partner creator Jackson Palmer, who has repeatedly shown disgust with both Dogecoin and crypto. In July, he said that the entire 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, even relative to other cryptocurrencies like Bitcoin. However, Markus’s numbers would indicate that he is not one of them. Though not negligible, his holdings lack the power to swing the market through a selloff, nor make him a massive fortune.
Ultimately, the creator seeks to clear his leadership role from the community, both in terms of influence and responsibility.
“I do not owe a single person in this space anything at all… I like the fun people though.”
Dogecoin: Just for the Memes
Following a recent Twitter debate sparked by Block CEO Jack Dorsey, Markus added that he lacks any grand ambitions within the space. He doesn’t believe that “meaningful breakaways from the corporate establishment” are possible, as many crypto community members tend to believe. Rather, he’s only involved to “build stuff, make money, and have fun”.
Elon Musk echoed this opinion, saying he’s pro-Doge for that same reason. The Tesla CEO has repeatedly mocked both “Metaverse” and “Web 3.0” as buzzwords, implying that they don’t really exist and should not be taken seriously.