Billy Markus, who created the original meme-inspired Dogecoin cryptocurrency in 2013 in collaboration with Jackson Palmer, responded to a recent tweet from Elon Musk.
Billy Markus, who created the original meme-inspired Dogecoin cryptocurrency in 2013 in collaboration with Jackson Palmer, responded to a recent tweet from Elon Musk.
The crypto community interpreted Markus’ tweet as a clue about Bitcoin mining equipment.
“The new gold,” Markus tweets to Musk
Earlier today, centibillionaire and X/Twitter app owner Elon Musk tweeted a meme about a knight who wants to slay a dragon and take its gold. Meanwhile, the dragon tells the knight that he does not possess gold in the traditional sense of the word.
Instead, the dragon shows the knight that he guards a thresher that separates the wheat from the chaff without much manual labor. The dragon points out the benefits of new technologies to the warrior and tells him that he too has an automated cotton loom. “The wealth of nations lies not in gold or coins, but in their productive capacity,” says the dragon, adding that mining more gold than there is now would also make gold less valuable.
The disappointed knight leaves the dragon and his cave alone.
Supporting Musk and his message about new technologies, Billy Markus posted an animated GIF of a cooler fan, stating that this is “the new gold.” Commenters noted that this looks a lot like some of the ASIC miners for Bitcoin and other cryptocurrencies based on the proof-of-work consensus algorithm, including Dogecoin.
Elon Musk and Bitcoin
Musk is a well-known DOGE fan and a “pen pal” of Markus. In 2021, Musk announced that Tesla would begin accepting Bitcoin for its electric cars, in addition to purchasing a whopping $1.5 billion worth of the flagship cryptocurrency, roughly 43,000 BTC at the time.
However, a few months later, Tesla backed out of accepting Bitcoin payments for environmental reasons. In April of that year, when this Tesla Bitcoin setback occurred, BTC skyrocketed to its first all-time high that year, reaching $63,500. Musk announced that Tesla would return to accepting Bitcoin payments once miners replaced 50% of their energy with renewable resources. However, Tesla and SpaceX accept Dogecoin. A DOGE-funded lunar mission is expected to take place in the near future.
However, both companies led by Musk still hold BTC, as Guru-Investingrecently reported.
