Dogecoin co-founder Billy Markus spoke about the growing interest in the cryptocurrency he created as a joke in a letter he wrote on Reddit this week.
Dogecoin founder says he ‘didn’t understand’
Billy Markus was an engineer at IBM with Adobe engineer Jackson Palmer when he created Dogecoin. He shared with Bloomberg on Wednesday that he is currently working as a software engineer at an education company in the Bay Area. Markus, who left the project in 2015, said, “I am semi-independent. But it’s strange that something I did in a few hours is now part of internet culture,” he says. He also does not deny that there is a big rise behind the project:
It’s fun to see Elon Musk talk about this. It sounds silly, but it has a huge upswing behind it.
Elon Musk has been perhaps the biggest driving force behind the recent surge in Dogecoin price with his tweets. Prior to the FTX crisis, the move to buy Twitter triggered over 150% rally in Dogecoin. DOGE is now under pressure, along with the market as a whole. cryptocoin.comAs you follow, DOGE is currently leading the market with over 10% gains.
When will DOGE reach $1?
As social media users, especially on Twitter and the Reddit community SatoshiStreetBets, continue their call to pump Dogecoin, their ultimate goal for Dogecoin is to hit $1. Billy Markus predicts that Dogecoin will overvalue “real companies that serve millions” like Boeing, Starbucks, American Express Company and his former employer IBM. Does Dogecoin deserve this? “This is not something I can understand, let alone answer it,” says Markus.
Markus left the project after the initial community built around Dogecoin had evolved in a direction that he could not accept. He became disillusioned shortly after creating the cryptocurrency. However, the ‘Doge Mother’ as some in the community call it, hopes that Dogecoin can “become a force for good”.
“Pumping and dumping, rampant greed, fraud, malicious actors, making demands on others, exaggerating research, taking advantage of others – these are all worthless,” Marcus said. The Dogecoin founder said, “Honestly, it’s worse than bringing more negativity into the already difficult world. When I see things like this – and I’ve seen a lot in the last 7 years – I don’t get angry. I’m just disappointed,” he added.
The future of Dogecoin
Still, Marcus points out the good causes the Dogecoin community has served over the years:
Stupid and fun causes like helping build water wells in Africa, connecting service dogs and kids, and helping the Jamaican Bobsled team get sent to the Olympics, or sponsoring a Nascar driver.
