Dogecoin founder makes compelling statement about Bitcoin

Billy Markus, the software engineer who created and launched the iconic Dogecoin cryptocurrency meme, published a sarcastic X/Twitter post talking about the future millionaires that could emerge in 2024, including those making passive income through Bitcoin people.

Meanwhile, the world’s leading digital currency Bitcoin has seen an incredible rise, crossing the $45,000 threshold.

“Bitcoin Message” from DOGE Founder

Billy Markus made a sarcastic comment on the advice to earn a lot of passive income by doing nothing, which financial coaches often share on social networks.

To do this, first of all, Marcus explain The $24 million needs to be acquired somehow, which must then be deposited into a bank’s “high-interest savings account with an annual interest rate of 5%.” The only question left is how to make $24 million?

When a commentator asked Marcus about this, he say “Buying Lots of Bitcoin in 2011.” The world’s leading cryptocurrency by market capitalization launched in 2009, trading at less than $1, and reached an all-time high of $69,000 in late October 2021.

On January 2, 2024, the price of Bitcoin returned to $45,000. After gaining more than 7% on the day, BTC is trading at $45,800.

Bitcoin Price Chart 1 Day | Source: TradingView

Bitcoin ETF craze drives prices higher

As 2024 begins, the rush to get spot Bitcoin ETF approvals intensifies. Many expected U.S. regulators to give the green light to ETFs in the second week of January, resulting in a 7.26% surge in Bitcoin prices.

However, the price increase resulted in huge liquidations in the market, totaling approximately $145 million. Most of these liquidations were short positions, as traders bet at the start of the year that Bitcoin prices would see a major reversal. However, they were defeated by Bitcoin’s unexpected price action.

Last year, about a dozen major Wall Street firms, including Grayscale, BlackRock, Fidelity, VanEck and Ark Invest, applied for Bitcoin spot ETFs multiple times. However, they must update their records to add details about the cash redemption.

Once the Bitcoin ETF is approved, hundreds of billions of dollars are expected to flow into the crypto king.

You can check coin prices here.

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According to UToday