Billy Markus, the developer of the Dogecoin (DOGE) currency, announced that he sold all his DOGE savings in 2015 for the price of a Honda Civic model car.
Markus shared a post on the r / dogecoin subreddit earlier this week. After the Dogecoin frenzy, DOGE made statements about the “true value” of the currency. Since the end of January, the currency has increased by 900 percent.
In the article, he said that since the coin started as a joke in 2013, a love and hate relationship has been formed.
Markus stated that he withdrew from the Dogecoin formation in 2015 due to attacks from the community and was disturbed by the situation in which the community was taking place. That same year, Markus said he was experiencing financial concerns over losing his job and decided to convert his DOGE unit into cash:
“I sold all the crypto I had enough to buy a second-hand Honda Civic, as I was worried about my layoffs in 2015 and my dwindling savings at the time.”
The astronomical increase in value seems to mean little to Markus, who questions what the true value of the DOGE currency is. Markus does not “make sense” that an unproductive coin will reach $ 1 and achieve a market value comparable to many leading US companies.
“People are talking about Dogecoin going up to $ 1. In this case, it will reach higher market value than real companies like Boeing, Starbucks, American Express, IBM that serve millions. Does Dogecoin deserve it? I don’t answer that, it’s not something I can understand anyway.”
Markus claims the true value of Dogecoin is community-based and has the potential to do good. He said that if the community embodies joy, courtesy, fun, empathy, creativity and absurdity, it is “DOGE’s true value.”
As reported by Cointelegraph, billionaire Elon Musk announced that he purchased Dogecoin (DOGE) for his 9-month-old son.