Dogecoin Founder’s Bitcoin Crash Tweet Sparks Hot Discussion

Co-Creator of Dogecoin Comments on Bitcoin's Plunge

Billy Markus, the co-author of the popular meme cryptocurrency Dogecoin, has shared his thoughts on the recent downturn in the crypto market via Twitter (@BillyM2k).

Bitcoin's Volatility and Markus' Sarcasm

Markus, known online as Shibetoshi Nakamoto, remarked on Bitcoin's significant loss of over $4,000 in a single day. He is known for his playful and sarcastic comments regarding cryptocurrencies, particularly during downturns. Markus has consistently avoided endorsing Bitcoin as a store of value and refrains from praising his own creation, Dogecoin, or any other cryptocurrency.

Bitcoin's Market Performance

Bitcoin, the world's largest cryptocurrency by market capitalization, experienced a sharp decline of nearly 5%, dropping from $95,300 to $90,640. It has since recovered slightly, trading around $90,900. Bitcoin's previous low last week was $91,860, which it has now surpassed.

Markus' Reaction to the Plunge

Markus sarcastically responded to the price drop by posting a chart showing the decline and captioning it "Happy Monday."

MicroStrategy's Bitcoin Acquisition

Amidst the market volatility, business intelligence firm MicroStrategy, led by Michael Saylor, has announced another significant Bitcoin purchase. The company disclosed that it has acquired $243 million worth of BTC, bringing its total crypto holdings to over 450,000 BTC, valued at approximately $40,586,688,000. MicroStrategy now holds a considerable 2.14% of the 21 million BTC supply.

Saylor's Bitcoin Outlook

Saylor has stated that MicroStrategy intends to hold Bitcoin "forever" and predicts that it will capture a portion of gold's market share within 10 years, projecting a potential price of $13 million per Bitcoin.