Dogecoin Creator Breaks Silence As Bitcoin Loses $55,000

Billy Markus Comments on Bitcoin's Plunge

Billy Markus, co-creator of Dogecoin known as Shibetoshi Nakamoto on Twitter, has expressed his thoughts on the ongoing Bitcoin sell-off.

On July 5th, Markus tweeted a tongue-in-cheek message, "Happy 4th of July" accompanied by a chart showing Bitcoin's plunge to $55,465.

Previously, Markus commented on the idealization of Bitcoin as a symbol of freedom, stating that "Freedom that slowly erodes when the price goes down."

Bitcoin's Decline

In the past 24 hours, Bitcoin has lost over 10%, falling from $60,341 to $53,879, totaling a loss of over 15% since Monday.

Market Movements

Cryptocurrency market observers believe that whales are accumulating Bitcoin dips on Bitfinex. Justin Sun, founder of Tron, has expressed interest in purchasing the German government's Bitcoin holdings to mitigate market impact.

Mt. Gox Developments

Mt. Gox, one of the first Bitcoin exchanges, continues to transfer BTC to repay investors. Today, $84.87 million was transferred to Bitbank, following a previous transfer of $2.71 billion.