As a researcher looking into the lives of influential figures in the crypto world, I find myself constantly amazed by the stories behind their successes and failures. One such tale that has captured my attention is that of Billy Markus, co-creator of Dogecoin, who sold his holdings for mere thousands when they could have been worth millions.
In reaction to an infographic displaying the major Bitcoin (BTC) owners, Dogecoin co-creator Billy Markus, also known as Shibetoshi Nakamoto, contrasted his DOGE holdings with the amount of Bitcoin (BTC) that Satoshi Nakamoto, Bitcoin’s creator, is said to possess.
Based on statistics, Satoshi is estimated to have approximately 1.1 million Bitcoins, worth around $66 billion. Markus claims this amount is greater than what he owns in Dogecoin. If that’s true, it suggests that the creator of Dogecoin possesses less than $117,040 of the popular meme coin.
In 2015, as Dogecoin was surging in popularity, Jackson Palmer and Billy Markus found themselves on a wave neither could foresee the significant financial decisions that would later trouble one of the creators.
i have less doge than satoshi has bitcoin lol
— Shibetoshi Nakamoto (@BillyM2k) September 12, 2024
Looking back on it, Markus acknowledged that parting with his Dogecoin assets wasn’t only his greatest remorse but also, as he put it, “the most idiotic action” he has ever taken.
Due to unease about the evolving Dogecoin community and his own monetary troubles, he chose to withdraw, eventually receiving a modest $10,000 – an amount that would later balloon into millions.
No Honda Civic was bought, actually
The sum was sufficient to purchase a Honda Civic, however, it was designated for other pressing expenses, such as paying rent. Facing financial difficulties due to being let go from work, he opted to sell the funds because he needed immediate cash. Fortunately, he landed the desired job, but it didn’t entirely alleviate his regrets. It appears that he still feels remorseful in this situation.
Markus has stepped back from the Dogecoin venture, but he remains influential within the realm of cryptocurrencies. He continues to maintain a large following of more than two million on platform X (previously Twitter), so his views continue to carry weight in the market, even though he claims not to be engaged in any current cryptocurrency projects.
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2024-09-13 16:01