Bill Markus, the co-founder of Dogecoin, has recently announced that he has bought back into Dogecoin again after a lengthy hiatus of eight years from his involvement in virtual currencies. According to Markus, he had made the decision to never invest in any virtual currencies again. However, it is apparent that the success and the hype of Dogecoin have tested his resolve. After changing his decision, the founder invested in some Dogecoin once again.
Markus took to Twitter to announce this and he still continues to use his Twitter to update his followers on his endeavor, mostly via joke tweets about constantly checking the prices. He happened to buy back into the virtual currency amidst the price crash, taking it as a signal that the count was likely going to head towards recovery.
Dogecoin supporters and investors have responded positively to this news and the virtual currency has rebounded from its recent crash.
Dogecoin is currently trading at 0.2653. Markus, along with his friend Palmer, jokingly created the virtual currency seven years ago in 2013. The duo had branched the virtual coin off Litecoin. It had all been done in jest keeping in mind Bitcoin and the then-developing cryptocurrency market.
Both sold their investments in the virtual coin ahead of time, and have since withdrawn from the development side of the virtual currency. Markus claimed that he had sold Dogecoin assets in order to buy a second-hand Honda.
The founder has now made his way back into virtual currencies. On his Twitter account, he elaborates on why he has chosen to reinvest in the virtual coin, claiming that he now recognizes the currency’s true value. He also added that he was a part of the community since it was not full of the kind of people he considered to be “jerks”.