Dogecoin (DOGE) is known as the most famous and entertaining meme coin in the cryptocurrency world. Known for his contributions to this project, Billy Markus, alias Shibetoshi Nakamoto, continues to be an important figure in the cryptocurrency community. However, Markus made very interesting confessions about cryptocurrency investments and stated that he was not very successful in purchasing tokens.
Investing in Solana meme coin
While interacting with his followers on the social media platform X (formerly Twitter), Billy Markus ignited a new debate with his answer to a question asked to him. After a follower asked if he was investing in new cryptocurrencies, Markus announced that he purchased Moo Deng, a meme coin on the Solana blockchain. However, Markus stated that his investment did not go as he expected, and that Moo Deng’s price experienced a great decline and as a result he suffered a serious loss. After this statement, Markus made a confession to his followers by saying, “I am very bad at buying tokens.”
This statement by Markus once again revealed the risks of frequent fluctuations and sudden losses in value in the cryptocurrency world. This incident, which reminds us that investing in new projects can provide great returns but can also lead to serious losses, is an important lesson especially for new investors.
He sold Dogecoin and other cryptocurrencies
Billy Markus’ investments in the cryptocurrency world are not limited to just Moo Deng. The creator of Dogecoin also announced that he had actually completely divested his crypto portfolio in a much larger sale transaction. This statement of Markus caused surprise among his followers. The creator of Dogecoin stated that he disposed of the cryptocurrency assets he once owned in a mass sale. During this period, Markus had a significant amount of crypto assets such as 50 Bitcoin (BTC), 440 Litecoin (LTC) and 6 million Dogecoin (DOGE). However, at that time, these assets were only worth enough to buy a Honda Civic, according to Markus.
Considering today’s prices, this portfolio that Markus disposed of is worth approximately $3.76 million. There are several reasons behind this big sale. When Markus sold his cryptocurrency assets, he quit his job and needed cash to make ends meet. However, in addition to this, the direction and attitude of the Dogecoin community in 2015 was also one of the factors that disturbed Markus. This discomfort led Dogecoin’s creator to distance himself from his creation and sell his holdings of DOGE.
Even though Billy Markus sold his cryptocurrencies and missed out on a huge gain, he is still considered an important figure in the cryptocurrency world. Markus has two million followers on the X platform, and this large following constitutes a significant part of his social capital. Especially in periods when Dogecoin is rapidly gaining value and its popularity is increasing, Markus’ words and statements are of great importance for cryptocurrency investors.
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