Billy Markus, one half of Doge’s actual developers, has caused some stir with a statement about Bitcoin’s future. Markus said through X (former Twitter) that he wouldn’t sell his Bitcoin holdings “until it’s at 1 billion dollars each.”
Of course, this was said jokingly, but it points to Bitcoin’s significant surge and the situation on the crypto market currently.
Bitcoin Hits New Highs
Bitcoin has risen by over 100% since the beginning of 2024 and hit an all-time high of $93,207 only to correct slightly to $87,000. This surge has pushed BTC’s market cap to $1.83 trillion.
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A variety of stimulators has pushed this bull run including the new outcome of the U.S. presidential election and lower interest rates by the Federal Reserve.
Bitcoin’s rally began with the optimism surrounding Donald Trump’s election victory. Traders have speculated that his pro-crypto policies could benefit the market.
Additionally, the Federal Reserve’s rate cut to 4.50%-4.75% has created a favorable environment for alternative assets like Bitcoin. As more investors pile in, the bullish momentum shows no signs of slowing down.
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Dogecoin Creator Reveals BTC Holdings
Markus hotels only 0.006 BTC, which at current prices amounts to approximately $528. Although modest, the Dogecoin creator teased that he will not part with any until Bitcoin reaches about $1 billion per coin.
This statement is rather an amusing acknowledgment of the unpredictable character of the crypto market. Markus also poked fun at those who expect Bitcoin to reach extreme prices overnight, saying, “Why isn’t bitcoin a million dollars yet?”
The Dogecoin creator’s sarcasm is quite evident to dispel the unrealistic expectations sometimes thrown around when discussing crypto. Yet, his point remains: Bitcoin’s growth is driven by long-term trends, not short-term hype.
Markus’s Journey with Crypto
Like many other crypto investors, Markus has not had a rosy time in investing in crypto currencies.
The creator of Dogecoin in 2013, admitted that he sold his entire DOGE holdings in 2015 for an amount roughly equal to the cost of a used Honda Civic. The total market cap of Dogecoin is currently around $54 billion.
Markus has also disclosed his current status on the cryptocurrency portfolio. Apart from Bitcoin he has Ethereum, some of which he sold at a loss to pay taxes a few years back.
Indeed, despite all this, Markus still hangs around the crypto-scene. His tweets that sometimes contain an element of humor are surprisingly informative about the mood and perception of the crypto audience.
They remind followers that the crypto space, while filled with potential, also requires patience and a realistic outlook.
What’s Next for Bitcoin?
Bitcoin’s price is stabilizing around the $87,000 mark, and many are watching closely to see what happens next. The $100,000 milestone seems within reach, and as institutional investors continue to show interest, the future looks promising.
But, as always in crypto, volatility is a constant, and the market could shift quickly.
For now, Bitcoin’s bullish trend continues, while Markus’s playful comments remind us that crypto, at its core, is as much about entertainment and community as it is about investment.
