DOGE Creator Says He'd Spend $100,000 on Tesla Stock, Why Not Crypto?

IT engineer Billy Markus is one of the two creators of the first meme coin, DOGE. The second cofounder is Jackson Palmer, and together they made and launched Dogecoin back in 2013 as a parody on Bitcoin. It happened four years after the launch of BTC by Satoshi Nakamoto and two years after Charlie Lee launched "digital silver" Litecoin.

Billy Markus is a lot more active on Twitter than Palmer and often comments on issues distantly related to cryptocurrencies. He is also an "online friend" of Elon Musk (as the Twitter boss publicly admitted once), which means they have never met in person, according to Markus. The DOGE co-founder provides various kinds of support to Musk and his projects.

Earlier today, he stated that he would invest a big sum of USD in Tesla stock if he had to spend it quickly. Markus did not mention investing in crypto, though. On Twitter, he goes by the alias "Shibetoshi Nakamoto."

Markus: I would spend $100,000 on Tesla stock

Verified Twitter user @dubzyxbt, who boasts over 105,000 followers, posted a tweet that can often be seen on social media in different variations: "If I sent you an x amount of USD/crypto, what would you do/buy with it?" He spoke about hypothetically sending $100,000.

Billy Markus responded that he would spend this money on Tesla stock.

tesla stock

— Shibetoshi Nakamoto (@BillyM2k) May 11, 2023

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Markus's stance on crypto investment

This year, several times, Markus explained his take on crypto investment. The Dogecoin founder stated he had stopped investing in digital assets in 2013 (before the majority of cryptocurrencies were created, and even before Vitalik Buterin launched Ethereum).

Since then, Markus has only had some tips in crypto or has been selling his stash. In December 2022, he sold some of his Ethereum to pay taxes. Overall, according to Markus's earlier tweets, he believes investing in crypto to be nothing but gambling.

Once he even likened investing in cryptocurrencies to investing in mental illness. Per Markus, NFT investors are even more mentally ill than crypto investors.

Besides, according to one of his tweets, if Markus had to turn $1,000 into $100,000, he would buy neither meme coins (which are so very popular now, especially PEPE as of late) nor non-fungible tokens.