Great Folly of Billy Markus: Dogecoin Founder Sold His Holdings to Buy Used Honda Civic

Dogecoin is surging to new heights every hour, touching lifetime highs. The recent surge of the cryptocurrency has got people talking all over social media. The price rise is luring new investors into the market in the hope of making quick bucks and the meme currency is delivering as expected and not disappointing.

The co-creator of Dogecoin, Billy Markus, revealed that he sold all his holdings from Doge and other cryptocurrencies in 2015 and used the profits to buy a second-hand Honda Civic and is now surprised to see Doge being much bigger than the car manufacturer itself in market capitalization.

Dogecoin Cryptocurrency Co-founder Billy Markus
Dogecoin Co-founder Billy Markus (Everipedia)

While automaker Honda Motor Co. Ltd has a market capitalization of $54.52 billion in 2021, Doge surpassed the world renowned company with a market capitalization of $86 billion, making it bigger than most of the world acclaimed companies around the world.

''I've always said was I sold everything for about as much as it would cost to buy a used Honda Civic. This was all my crypto too, I had Litecoin and Bitcoin and Doge and a bunch of other ones,'' tweeted Billy Markus in 2015 about selling off his holdings. Little did he know that the holdings would have earned him a fortune in 2021.

However, Billy still has a considerable amount of Dogecoin holdings under his portfolio and plans to hold it in the long run 'to the moon' and not repeat his mistake from 2015.

Dogecoin Cryptocurrency
Twitter / Dogecoin

Also, Dogecoin has surpassed Ford Motor Company with a market capitalization of $45.6 billion and even beat social media giant Twitter, which has a market capitalization of 43.6 billion. Doge is considered the overnight star and its upward trend seems to have only begun.

However, Billy Markus took to Twitter a while ago saying Doge is the cryptocurrency of the people that has challenged heavy-weights in the market and has given birth to a new financial era ushering fortunes to people who invest in it.

''Dogecoin doesn't lie. Its current success represents precisely what is going on in culture right now. Love it or hate it, it's got everyone talking. It challenges what money is. It challenges crypto. It challenges investing. And it's just an unassuming, cute dog on a coin,'' he tweeted from his official handle Shibetoshi Nakamoto.

Dogecoin touched $0.69 on May 5, 2021 and is inching towards reaching its first goal of $1. Doge rose 60 percent in just two days and investors are hopeful it would cross the $1 boundary on May 8, 2021 when Tesla CEO Elon Musk would introduce the cryptocurrency to the world making it a mainstream with his Saturday Night Live (SNL) skit.