- Billy Markus Co-founder of Dogecoin released an open letter on the platform of Reddit this week
- The letter addressed his response to the intensified interest in the respective cryptocurrency
- Billy also reacted to updates in the crypto world associated with Elon Musk
Billy Markus and Jackson Palmer created Dogecoin as a prank in 2013. The intention behind it was to tease other cryptocurrencies. Shiba Inu, a specific variety of Japanese dogs, is the lucky charm of Dogecoin.
However, the well-proclaimed fun side of Dogecoin did not affect the commercial side of it. Currently, the crypto holds a current market capitalization of $ 1 billion.
Billy Markus’s open letter
The co-founder, Billy Markus, released an open letter on the platform of Reddit this week. The letter addressed his response to the intensified interest in the respective cryptocurrency. The most surprising part remains that it was created as a joke.
When Billy created the crypto, he was in the position of an engineer at International Business Machines Corporation. Jackson Palmer, an Adobe Inc. engineer, was his ally at that time. Billy told Bloomberg that currently he holds the position of software engineer at an educational institution in the Bay Area.
Billy also reacted to updates in the crypto world associated with Elon Musk. He explained that he feels half detached. Though he abandoned the project back in 2015, he still feels weird that joke crypto emerged to be a significant part of the Internet culture.
He also explained that it is very fascinating to observe Elon Musk talk about Dogecoin. The frequent tweets of the CEO of Tesla Inc. could possibly be the reason for the sudden surge in prices of Dogecoin.
Billy’s faith in Dogecoin’s potential
Billy observed that Dogecoin at $1 would pump its market capitalization over that of real institutions that serve millions of people. When inquired that if according to him Bitcoin deserves this stature, Billy responded that he cannot even comprehend such a thought.
Immediately after he created the crypto, Billy lost interest in the cryptocurrency. The reason was that the initial community that created Dogecoin went in a different direction. And Billy was not in agreement, so he decided to part ways.
However, the Doge Mother, as he is popularly called, thinks Dogecoin can prove to be a good force. Billy pointed out that the Dogecoin community has very efficiently served good causes over the years. Some of these include assisting the creation of water wells in Africa, helping the service dogs and kids connect. Alongside, it has helped various other casual causes, like helping a Nascar driver in financial terms.
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