Bill Markus makes a U-turn, acquires some dogecoin.
The dogecoin party didn’t always have this much appeal, even Dogecoin founder, Bill Markus never believed in the dream. Bill sold his dogecoin holding about 8 years ago for a good old Honda.
Bill swore not to get involved in anything cryptocurrency, but people do change their stance. Like the proverbial prodigal son, he is returning to the fold after his prolonged sabbatical.
And the all-forgiving crypto space and the dogecoin community have welcomed him with open hands.
Bill Markus made his big reveal on Twitter to the applause of the Dogecoin community. It’s the same platform where he shared his purchase of an old Holda from his dogecoin holding.
Dogecoin founders aren’t model dogecoin ‘hodlers’ as Bill Markus wasn’t the only Dogecoin dev that ditched the ‘cryptocurrency of the people’ at the first sign of panic.
Palmer, another dogecoin founder, also sold off his dogecoin holding early on.
For what started as a joke, it’s no surprise the dogecoin founders gave up on the project early on as they never expected the meme coin to make headway.
And to their utmost surprise, the litecoin fork has had a tremendous rally over the past 1 year.
Bill Markus was the butt of jokes when he revealed on Twitter that he sold off his dogecoin holding to buy an old Honda.
To many, it doesn’t make sense considering the market cap of dogecoin – $54 billion – is more than that of Honda ($50.4 billion).
What many in the crypto space fail to realize is that people have needs that must be met.
No one knows what the future holds, so Bill and Palmer selling off their dogecoin holdings wasn’t the wrong thing to do at that time.
Bill Markus revealed he was struggling financially at the time, which explains his decision to let go of the memecoin.
The much-talked-about dogecoin rally started only a few months ago. Many have attributed the massive jump in dogecoin price to the tweets of Elon Musk and partly assisted by Mark Cuban.
Both men have supported the dogecoin, but the Tesla man has been at the forefront, dishing out tweets upon tweets all aimed at positioning dogecoin as the cryptocurrency of the people.
Only time will tell if dogecoin lives up to the hype even as a founding dogecoin developer returns to the fold.