Dogecoin DOGE/USD Co-founder Billy Marcus spoke in an open letter on Reddit this week about the growing interest in the cryptocurrency he created as a joke.
Marcus was an engineer ibm At the time Dogecoin created alongside Adobe Engineer Jackson Palmer. Marcus now works as a software engineer for an education company in the Bay Area, he told Bloomberg on Wednesday.
On Musk: “I’m semi-detached, but it’s strange that something I made in a few hours is now part of internet culture,” the Dogecoin co-founder, who left the project in 2015, told Bloomberg.
See also: How to buy Dogecoin (DOGE)
“It’s fun to see Elon Musk talk about it. It feels silly, but there’s this massive outpouring behind it,” Marcus said.
The Tesla Inc TSLA The CEO was perhaps the biggest driving force behind the recent surge in Dogecoin price with his frequent tweets.
Doji to $1? As social media users, in particular, the Twitter and Reddit community SatoshiStreetBets, keep calling for cryptocurrency injections, the goal they aim for for Dogecoin is to reach $1.
Marcus noted that Dogecoin at $1 would take its market capitalization higher than “actual companies serving millions” like BoeingAnd the Starbucks , American Express Company and his former employer IBM.
“Is Dogecoin worth it? It’s not something I can understand, let alone answer,” Marcus said.
See also: Dogenomics: What sets Dogecoin apart anyway?
Dogecoin as a good strength: Marcus became disillusioned with the cryptocurrency shortly after its creation, as the initial community that was built around Dogecoin took a direction he did not agree with.
However, the “Doge Mother,” as some in the community call him, hopes that Dogecoin can be a “force for good.”
“The pump and dump, the rampant greed, the fraud, the ill-intentioned actors, the demanding of others, the hype without research, the taking advantage of others — it’s all worthless,” Marcus said.
“Worse than worthless, frankly, brings more negativity to an already difficult world,” added the Dogecoin creator. “When I see things like that — and I’ve seen a lot of them over the past seven years — I’m not angry, just disappointed.”
However, Marcus points out the good causes the Dogecoin community has served over the years, including “helping build water wells in Africa, helping deliver service dogs and children, and silly and amusing ones, like helping send the Jamaican Bobsled Team to the Olympics, Or sponsor a NASCAR driver.”
price action: Dogecoin was trading down 11% at $0.06 at press time Thursday.
Photo by Shin-K on Flickr
Originally published on February 11, 2021.