The following blog article talks about co-creator of Dogecoin, Billy Markus. He sold all his coins to buy a Honda Civic. Not only is this an interesting story on how someone can have a huge life change in just a few years, but also speaks to the popularity and success of Dogecoin.
Billy Markus’s Honda Adventure
Billy Markus, the co-founder of Dogecoin sold his holdings in 2015 for what it cost him to buy a used Honda Civic ($10,000) back in 2015. Modern day Dogecoin is worth more than the entire Honda Motor Co. Ltd company.
What Markus said was “No one would have heard of Dogecoin in the first place if it wasn’t a meme.” Elon May not have tweeted about Dogecoin unless it was a meme. Removing the “Dogecoin being a lighthearted, friendly, and amusing meme is the main thing that separates it from the pack” and turning it into “a generic crypto seems like a pretty bad idea.”
He previously said that he sold everything for about as much as it would cost to buy a used Honda Civic. The series of coins he sold was mostly in Litecoin and Bitcoin.
How Dogecoin Became World’s Most Popular Cryptocurrency
Dogecoin is a cryptocurrency that was created on December 8th, 2013. “Dogecoin” was initially created as a joke cryptocurrency based on the “Doge” Internet meme featuring a shiba Inu dog. The name “Dogecoin” is a play on “doge”, a colloquial term for “cute Shiba Inu”. The community around Dogecoin took off and the coin quickly gained popularity for its entertainment-themed block-chain and robust community spirit.
The founder’s credits his success with Dogecoin to his community spirit and dedication to making the coin useful and fun.
What You Didn’t Know About Billy Markus
Dogecoin, a cryptocurrency inspired by the popular dog meme, has become something of an online sensation in recent years. The currency was created as a fun way to buy goods and services online, but its creator, Billy Markus, decided to sell all his coins to buy a Honda Civic.
Markus says he started Dogecoin because he wanted to make a new form of digital cash that could be used for tipping on websites and other social media platforms. Since its creation in December 2013, Dogecoin has grown rapidly in popularity thanks to its fun and strong community.
While Markus may no longer be actively involved in the development of Dogecoin, the currency continues to grow in popularity. In March last year 2021, Dogecoin reached a value of more than $70 billion, making it the fourth-most valuable cryptocurrency in the market.
Dogecoin is owned and loved by Elon Musk
Tweeting on Feb. 3, Musk said he had “sold all his bitcoin” and bought a Honda Civic. This tweet was followed by a picture of him in his new car. The value of dogecoin shot up as a result.
While it’s unclear why the value of dogecoin increased after this tweet, some speculate that it could be because people believe Musk is endorsing the currency. Others suggest that the price increase is simply due to sentimentality around the coin – after all, many people who own dogecoins are fans of Musk himself.
What Is Next For Billy Markus, DOGE and the Future Of Cryptocurrencies?
While the future of cryptocurrencies remains uncertain, one thing is for sure – Dogecoin is here to stay! Although Dogecoin’s value has fluctuated over the past few years, it’s still worth quite a bit.