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Dogecoin Founder Unveils His Bitcoin Stash, Here's Surprising Part

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Wed, 6/12/2023 - 14:34
Dogecoin Founder Unveils His Bitcoin Stash, Here's Surprising Part
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IT developer Billy Markus, who created and launched the largest meme cryptocurrency by market capitalization value Dogecoin in cooperation with Jackson Palmer in 2013, has surprised the crypto community by revealing how much Bitcoin he owns, and how much BTC needs to rise to make Markus a millionaire.

DOGE founder’s BTC stash unveiled

Markus has tweeted that he holds 0.0006 BTC in his crypto stash, and so in order to become a millionaire, he says: “all I need is for it to go to 166.6 million each.”

Still, Markus is known for his frequent ironic and sarcastic posts on the Twitter/X platform, so this “Bitcoin stash revelation” may be far from how much he really owns. One of the basic security rules for a crypto holder is not to brag about one’s crypto holdings on social media so as to avoid losing both one's crypto and one's life.

Still, one thing is certain, Markus likely holds Bitcoin. In one of his tweets recently, he admitted that among the variety of cryptocurrencies, he likes Bitcoin and Ethereum, while he dislikes all tokens based on Ethereum’s ERC-20 token standard.

In January, he was driven to sell part of his ETH stash at a loss in order to pay taxes for 2022. He did not specify how much Ethereum he sold but, notably, the Ethereum price went up right after Billy Markus sold his ETH. Had he made that sale a little later, his profit may have been higher.

In a comment to his own tweet, while answering an X user, Markus ironically agreed that before this year ends, the Bitcoin price may skyrocket to allow him turn into a millionaire.

Related
Bitcoin (BTC) Still Targets $1 Million, Per Samson Mow, As He Says Balaji Srinivasan Got Timing Wrong

Main reason for BTC surge given by Pompliano

Prominent investor and Bitcoin advocate Anthony Pompliano (known simply as “Pomp”) has shared what he believes to be the major reason for the current rapid Bitcoin increase.

Pomp reckons that this is basically Bitcoin demand shock meets BTC supply shock - “There is way more demand for bitcoin than the amount available for purchase.”

Institutional buyers now have to offer higher bids for BTC to persuade holders to sell their Bitcoin. Therefore, the price is going up quite rapidly, per Pomp’s tweet.

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