DOGE Creator Says He’d Spend $100,000 on Tesla Stock, Why Not Crypto?

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Youri Molchan

Dogecoin co-founder seems to prefer investing in Tesla stocks over cryptocurrencies

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Markus: I’d spend $100,000 on Tesla stockMarkus’ take on crypto investing

Computer engineer Billy Markus is one of the two creators of the first meme piece, DOGE. The second co-founder is Jackson Palmer, and together they created and launched Dogecoin in 2013 as a parody on Bitcoin. This happened four years after Satoshi Nakamoto launched BTC and two years after Charlie Lee launched Litecoin “digital money”.

Billy Markus is much more active on Twitter than Palmer and often comments on issues related to cryptocurrencies from afar. He’s also an “online friend” of Elon Musk (as the Twitter boss once publicly admitted), meaning they’ve never met in person, according to Markus. The DOGE co-founder brings different kinds of support to Musk and his projects.

Earlier today, he said he would invest a large sum of USD in Tesla shares if he had to spend it quickly. Markus, however, did not mention investing in crypto. On Twitter, he is called “Shibetoshi Nakamoto”.

Markus: I would spend $100,000 on Tesla stock

Verified Twitter user @dubzyxbt, who has over 105,000 followers, posted a tweet that can often be seen on social media in different variations: “If I sent you x amount of USD/crypto, what would would you/would you buy with it?” He talked about hypothetically sending $100,000.

Billy Markus replied that he would spend that money on Tesla shares.

Markus’ take on crypto investing

This year, on several occasions, Markus has explained his views on investing in crypto. The Dogecoin founder said he stopped investing in digital assets in 2013 (before the majority of cryptocurrencies were created, and even before Vitalik Buterin launched Ethereum).

Since then, Markus has only had a few crypto tips or sold his stash. In December 2022, he sold some of his Ethereum to pay his taxes. Overall, according to previous tweets from Markus, he thinks investing in crypto is nothing but gambling.

He once even compared investing in cryptocurrencies to investing in mental illness. According to Markus, NFT investors are even more mentally ill than crypto investors.

Also, according to one of his tweets, if Markus were to turn $1,000 into $100,000, he wouldn’t buy meme coins (which are so popular now, especially PEPE lately) or non-fungible tokens.

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