If Bitcoin Hits $100k?
Dogecoin co-founder Billy Markus recently revealed that he owns a small Bitcoin stash, consisting of just under 0.006 Bitcoin. At the current price, his Bitcoin holdings are worth $311.21. Markus made this revelation on X (formerly Twitter) in response to a follower’s question about whether he owned any Bitcoin.
i have .006
— Shibetoshi Nakamoto (@BillyM2k) February 14, 2024
In addition to revealing his Bitcoin holdings, Markus also shared what he would do if Bitcoin reaches a price of $100,000. He humorously stated that if this were to happen, he would celebrate by having dinner at the casual dining restaurant Olive Garden.
if bitcoin goes to $100k, i will celebrate by getting dinner at olive garden
— Shibetoshi Nakamoto (@BillyM2k) February 14, 2024
Billy Markus is known for his light-hearted and humorous comments about cryptocurrencies. He gained fame for creating Dogecoin in 2013 as a playful response to the proliferation of new crypto projects. Interestingly, this is not his first encounter with Bitcoin.
In 2015, Markus sold all of his crypto holdings, including Dogecoin and Bitcoin, in order to buy a used Honda Civic sedan.
Dogecoin creator co-creator Billy Markus sold all of his crypto holdings (Bitcoin, Doge, and Litecoin) in 2015 to buy a Honda Civic.
Now, Doge is worth more than Honda.
Honda’s market cap: 54.52 billion
Dogecoin’s market cap: $86 billion— finance your freedom (@Digitalcashin) May 8, 2021
This decision came two years after the launch of Dogecoin in collaboration with Jackson Palmer.
Dogecoin and Bitcoin – Relationship Born Out of Humor
The launch of the Bitcoin network in 2009 marked the beginning of a decentralized financial ecosystem. However, it took a few years for adoption to gain momentum and for decentralized assets to become popular.
Dogecoin, on the other hand, was created as a satirical response to the influx of new crypto projects that emerged after Bitcoin’s launch. This has earned Dogecoin the reputation of being a “joke crypto asset.”
At its core, Dogecoin is a fork of Luckycoin, which itself is a fork of Bitcoin. It also uses the Scrypt algorithm, which is the same consensus mechanism used by Litecoin, another fork of Bitcoin.
Despite its origins as a joke, Dogecoin has become a significant player in the cryptocurrency industry. Like Bitcoin, it is one of the premier cryptocurrencies in the memecoin ecosystem. It has also captured the attention of Elon Musk, CEO of Tesla and SpaceX, who has become a vocal supporter of Dogecoin.
Over the past two years, Dogecoin has gained popularity within the X (Twitter) community. Elon Musk even used Dogecoin to pay for a Falcon-1 rocket.
Furthermore, X plans to launch a peer-to-peer payment system on its platform using Dogecoin and other cryptocurrencies.
2023 was foundational
2024 will be transformational
Last year, we laid the groundwork to ensure that there is no substitute for X – and we’re just getting started
More below on what we’ve got in store for 2024— Business (@XBusiness) January 9, 2024
This move is aimed at increasing user utility and creating new commerce opportunities. The X Payments system is part of the platform’s vision to build a global online town square that promotes free speech.
Given Dogecoin’s close association with Elon Musk, many speculate that it will be one of the payment options available on the X Payments platform.
As for the current market, Bitcoin is showing strong bullish signals, with a price of $51,990 and a 24-hour gain of 0.99%. On the other hand, Dogecoin is trading at $0.085, with a slight decrease of 0.32% in the past 24 hours.
In conclusion, Billy Markus, co-founder of Dogecoin, recently disclosed his small Bitcoin holdings. This revelation came alongside his lighthearted comments about celebrating Bitcoin reaching a price of $100,000 by having dinner at Olive Garden. Dogecoin’s origins as a joke crypto asset have not prevented it from becoming a significant player in the industry, gaining popularity and capturing the attention of Elon Musk. With the upcoming launch of X’s peer-to-peer payment system, Dogecoin is expected to play a role in the platform’s payment solutions.
Disclaimer: The above is a matter of opinion provided for general informational purposes only and is not intended as investment advice. Please consult your own investment advisor before making any investment decisions.
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