IT developer Billy Markus, who created and launched the largest meme cryptocurrency by market capitalization value, Dogecoin, in cooperation with Jackson Palmer in 2013, surprised the crypto community by revealing how much Bitcoin he owns and how much BTC needs to increase to convert Markus into a millionaire.
DOGE Founder’s BTC Stash Revealed
Markus has tweeted that he has 0.0006 BTC in his cryptocurrency stash, so to become a millionaire he says, “all I need is for it to reach 166.6 million each.”
Now I have .006 bitcoins, so all I need is for it to reach 166.6 million each and I will be a millionaire.
– Shibetoshi Nakamoto (@BillyM2k) December 5, 2023
Still, Markus is known for his frequent ironic and sarcastic posts on the Twitter/X platform, so this “Bitcoin stash revelation” may be far from what he actually owns. One of the basic safety rules for a cryptocurrency holder is not to flaunt your cryptocurrency holdings on social media to avoid losing both cryptocurrency and life.
Still, one thing is certain: Markus likely has Bitcoin. In one of his tweets recently, he admitted that among the variety of cryptocurrencies, he likes Bitcoin and Ethereum, while he doesn’t like all tokens based on Ethereum’s ERC-20 token standard.
In January, he was forced to sell part of his ETH reserve at a loss in order to pay his 2022 taxes. He did not specify how much Ethereum he sold, but notably, the price of Ethereum rose right after Billy Markus sold his ETH. If he had made that sale a little later, his profits could have been greater.
In a comment to his own tweet, while replying to an X user, Markus ironically agreed that before this year is over, the price of Bitcoin could skyrocket to allow him to become a millionaire.
Main reason for BTC increase given by Pompliano
Prominent Bitcoin investor and advocate Anthony Pompliano (known simply as “Pomp”) has shared what he believes is the main reason for Bitcoin’s current rapid rise.
Pomp sees this as basically a Bitcoin demand shock meeting a BTC supply shock: “There is far more demand for bitcoin than the amount available to purchase.”
There is much more demand for bitcoins than the amount available to purchase.
Buyers have to bid higher and higher to convince holders to part with their bitcoins.
That’s why the price is rising rapidly.
– Pompa 🌪 (@APompliano) December 5, 2023
Institutional buyers now have to offer higher bids for BTC to persuade holders to sell their Bitcoin. Therefore, the price is rising quite quickly, according to Pomp’s tweet.
