Dogecoin Founder Sold Everything in 2015 For a Used Car

Dogecoin illustration

In a recent open letter to the dogecoin community on a subreddit, titled “True Value”, dogecoin founder, Billy Markus said he sold all of his DOGE holdings in 2015 to get a used Honda Civic.

In an open letter he tells his side of the story around the time of the creation of the dogecoin. Like many other projects, dogecoin inevitably attracted many diverse users – from passionate supporters to scammers. Markus left as his views didn’t align with the direction the dogecoin community went at that time, and he was a target of online harassment.

“People are talking about Dogecoin going to $1 – that would make the “market cap” larger than actual companies that provide services to millions, such as Boeing, Starbucks, American Express, IBM. Does Dogecoin deserve that? That is not something I can comprehend, let alone answer.”

Billy Markus

But he also mentions how the community was surprisingly helpful at certain times, and they helped build various important project such as water wells in Africa, helping connect service dogs and kids, and silly and amusing causes, such as helping send the Jamaican Bobsled team to the Olympics or sponsoring a Nascar driver.

“Joy, kindness, learning, giving, empathy, fun, community, inspiration, creativity, generosity, silliness, absurdity. These types of things are what makes Dogecoin worthwhile to me. If the community embodies these things, that’s True Value.”

Billy Markus