The world’s biggest holder of Dogecoin, who owns 28% of the cryptocurrency, is now worth at least $2.1 billion.
Recent uptake in investment has seen the cryptocurrency soar to a valuation of upwards of $10 billion, meaning it now has more value than huge US companies such as Wendy’s, Shake Shack and even Harley-Davidson.
Now, records show that a single dogecoin investor or entity owns almost a third of all the cryptocurrency in circulation.
As per The Wall Street Journal, the cryptocurrency whale currently holds 38.6 billion Dogecoin and has been buying since February 2019.
According to the publication, the investor regularly buys in numbers of 28.061971 Dogecoins at a time, which could be a nod to billionaire Elon Musk, whose birthday is June 28, 1971.
Earlier this month, Dogecoin value skyrocketed by 75% just minutes after Musk announced that he had bought some for his child.
‘Bought some Dogecoin for lil X, so he can be a toddler holder,’ he wrote on Twitter.
Then, in a turn of events earlier this week, Musk offered to pay significant holders of the cryptocurrency if they agreed to sell their holdings of the cryptocurrency.
He urged that those buying up large amounts of the cryptocurrency were preventing its growth and that the currency needs to be shared around.
‘If major Dogecoin holders sell most of their coins, it will get my full support. Too much concentration is the only real issue imo,’ he wrote, before adding ‘I will literally pay actual $ if they just void their accounts,’ he said.
Musk, who has become somewhat of an influence of the cryptocurrency award revealed he has high hopes for Dogecoin, which initially started as a ‘tongue-in-cheek’ cryptocurrency, inspired by the Shiba Inu Doge meme
When asked if he ‘legitimately sees Dogecoin’s potential as being the leading currency of the internet,’ Musk said: ‘Absolutely.’