Dogecoin was initially founded in 2013 by Billy Markus and Jackson Palmer as a joke, a project that they would eventually abandon. DOGE continued to trade in obscurity for years until it was picked up by billionaire Elon Musk who consistently posted about it on his X (formerly Twitter) account, driving the price up drastically. Since then, one of the Dogecoin founders, Billy Markus, has returned to the community and is often the subject of various headlines.
The most recent reason for why Markus is appearing in the headlines is in regard to his net worth. A report had quoted the Dogecoin’s founders net worth to be somewhere around $5 million, a figure the founder has since disputed and rejected.
Responding to the report, Markus took to X (formerly Twitter) to reveal that the quoted $5 million net worth was wrong, According to him, he actually does not have that much money. Instead of the $5 million value, the Dogecoin founder admits to having less than $1 million dollars.
“It’s hilarious that this is one of the first articles about me on the internet as my net worth is well under a million dollars and i have a very large interest in making money,” Markus said. Responding in a lighthearted manner, Markus explains, “If i did have 5 million dollars tho, i would be wayyyyyy more chill about money.”
it’s hilarious that this is one of the first articles about me on the internet as my net worth is well under a million dollars and i have a very large interest in making money 🤣
if i did have 5 million dollars tho, i would be wayyyyyy more chill about money pic.twitter.com/0xGqhLWWnk
— Shibetoshi Nakamoto (@BillyM2k) November 14, 2023
Apparently, the founder was not exactly money-oriented previously as he had lived in an area with a lower cost of living. However, he admits that after moving to California where things are admittedly more expensive than the national average, he got a lot more “money angsty.”
Why DOGE Founders Are Not Millionaires In DOGE Both Markus and Palmer have previously revealed that they had left the Dogecoin project early on. For Palmer, he has since left the crypto industry and has, in fact, become a very vocal critic of cryptocurrencies in general. He has previously said that he wished it was the end of crypto, as well as revealing that he was annoyed with Elon Musk’s plan to send a Doge-themed satellite to space.
Palmer has also referred to crypto as being “controlled by a power cartel of wealthy figures.” He believes that crypto is a scam and has since dissociated himself from the Dogecoin brand. Palmer has explicitly stated that he has no plans to return to crypto.
On Markus’s part, he has been more open to the market, returning to the Dogecoin community after the 2021 run-up. Markus has since made numerous investments in crypto including Dogecoin, engaging with the community while at it.
DOGE rises to $0.8686 | Source: DOGEUSD On Tradingview.com Featured image from Inside Bitcoins, chart from Tradingview.com
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Scott Matherson Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts. Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.