Dogecoin Founder Comments on $150 Billion Loss Suffered by Crypto Market

Billy Markus, a software developer who created the iconic meme coin DOGE in collaboration with Jackson Palmer in 2013, is a frequent X user. He is known to often post memes and comments on recent sharp events in geopolitics, economics and the crypto space. On social media, Markus is known as “Shibetoshi Nakamoto,” an ironic reference to the pseudonymous Bitcoin creator Satoshi Nakamoto.

Today, Markus took to X to comment on the recent crypto market crash, which wiped out a staggering $150,000,000,000 in assets as Bitcoin plunged and its rival, gold, reached a new all-time high.

$150 billion gone from crypto market, Markus shares take

Shibetoshi Nakamoto is well known for his comments full of sarcasm and dark irony. This time is no exception, particularly taking into account his overall skeptical attitude toward the crypto market and crypto traders.

Quoting a tweet by Polymarket, which stated “$150,000,000,000.00 has been eliminated from the crypto markets today,” Markus responded rather laconically: “Oh.”

This was triggered by the world’s flagship cryptocurrency, Bitcoin, crashing below the $90,000 level, as it lost the recently regained $96,000 zone due to the latest developments in geopolitics in northern Europe. In light of this, Bitcoin’s rival, gold, has begun soaring and reached a new all-time high above $4,800 per ounce. Crypto whales initiated a massive sell-off, triggering a real bloodbath on the market, with the aforementioned $150 billion worth of positions liquidated.

According to his earlier tweets, Markus holds less than one Bitcoin and a little Dogecoin. He does not believe in altcoins or, particularly, in meme coins, which can be created very quickly, Markus said once. He has experience in creating Dogecoin; therefore, he knows what he is talking about. However, despite the community asking him many times about his plans for the future, Markus said he would never create a meme coin or any other crypto project again in his life.

Strategy buys mammoth Bitcoin portion

While a lot of institutions and retail investors are selling, some continue to increase their Bitcoin bet, taking advantage of the discount. On Tuesday, the largest Bitcoin treasury company, Strategy, announced the purchase of 22,305 $BTC, estimated at a jaw-dropping $2.13 billion.

As of now, Michael Saylor’s company holds 709,715 Bitcoin in total.