The Creator Of Dogecoin Educated Binance CEO On The History Of The Cryptocurrency Market

Billy Markus, the inventor of Dogecoin, mentioned Binance CEO Changpeng Zhao’s tweet on the significance of the popular “HODL” internet joke. Zhao incorrectly assumed that HODL stood for “Hold On for Dear Life,” but the Dogecoin founder raced to correct the CEO of one of the world’s largest cryptocurrency exchanges.

The origins of the HODL meme, according to the inventor of the most famous memecurrency on the market, can be traced back to the Bitcointalk forum, which served as a safe haven for cryptocurrency and Bitcoin aficionados back when crypto was not yet at the levels of adoption seen today.

The user “GameKyuubi” wrote a long post about his relationship with bitcoin assets and why he prefers not to hold them rather than actively trade them. According to Markus, the guy who posted the message was inebriated at the time and misspelled “hold” in the title I am hodling.”

The “hodling” meme was later reborn as a fully established bitcoin trading method.

In cryptocurrency trading-Dogecoin, what is hodling?

The name of the strategy speaks for itself: traders who choose hodling are not trying to catch local bottoms or tops and are not trading in a rangebound. The only operation traders following the hodling strategy are implementing is buying.

As for the effectiveness of the strategy, if the original poster would have bought $100 worth of BTC in 2013 and held his coins until now, Kyuubi would’ve been up by more than $20,000 and almost $50,000 at the last ATH.

At press time, Bitcoin is trading at $29,314 and yet is failing to recover back above the psychological price of $30,000.

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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