DOGE Creator Bet $100K on Tesla Stock – Will He Win Big?

Key Points:

• Billy Markus, co-founder of Dogecoin, shares his thoughts on crypto investment and his relationship with Elon Musk.
• Markus would invest $100,000 in Tesla stock if he had to spend it quickly.
• According to Markus, investing in crypto is nothing but gambling, and he has stopped investing in digital assets since 2013.

Dogecoin, the first meme coin, was created in 2013 by two individuals, Billy Markus and Jackson Palmer, as a parody of Bitcoin.

The launch of Dogecoin came four years after the launch of Bitcoin by Satoshi Nakamoto and two years after Charlie Lee launched Litecoin, a digital silver. While Jackson Palmer has been mostly absent from the public eye, Billy Markus is an active and vocal supporter of cryptocurrencies on Twitter, often commenting on issues distantly related to cryptocurrencies. Markus is also an “online friend” of Elon Musk, as the Twitter boss publicly admitted once, although they have never met in person, according to Markus. The DOGE co-founder provides various kinds of support to Musk and his projects.

Recently, Billy Markus made headlines when he announced that he would invest a big sum of USD in Tesla stock if he had to spend it quickly. However, Markus did not mention investing in crypto. Markus is active on Twitter as “Shibetoshi Nakamoto,” where he has over 50,000 followers.

While Markus is very supportive of cryptocurrencies, he has a unique perspective on investing in them. Markus has stated multiple times this year that he is no longer investing in digital assets, having stopped in 2013, before the majority of cryptocurrencies were created, and even before Vitalik Buterin launched Ethereum. Since then, Markus has only had some tips in crypto or has been selling his stash.

In December 2022, he sold some of his Ethereum to pay taxes. Overall, according to Markus’s earlier tweets, he believes investing in crypto to be nothing but gambling and has likened investing in cryptocurrencies to investing in mental illness. Markus went so far as to say that NFT investors are even more mentally ill than crypto investors. Besides, according to one of his tweets, if Markus had to turn $1,000 into $100,000, he would buy neither meme coins nor non-fungible tokens, which have both become popular in recent years.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Annie

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