FOUNDED by Billy Markus and Jackson Palmer, the value of the cryptocurrency dogecoin has surged exponentially – with an estimated worth of almost $17billion.
But who are they and how much is their net worth? Here is all you need to know.
Who are dogecoin founders Billy Markus and Jackson Palmer?
Billy Markus and Jackson Palmer are software engineers who co-founded dogecoin in 2013.
At the time, Markus was working for IBM from Portland, Oregon, while Palmer was a member of the Adobe Systems Marketing Department in Sydney.
Markus then reached out to Jackson Palmer and jokingly tweeted, “Investing in Dogecoin, pretty sure it’s the next big thing.”
Ten days later, the pair were in touch about developing it together.
After the launch of the “joke currency,” their notoriety skyrocketed as dogecoin.com received over a million visitors within the first 30 days.
What is Billy Markus and Jackson Palmer’s net worth?
The net worth of Markus and Palmer is unknown due to their tendency to stay off social media and online platforms.
However, dogecoin was estimated to be worth almost $17billion as of April 14, 2021.
Speaking to Decrypt in 2018, Palmer said “It was always like a hobby project, like a side project thing.
“I made a lot of people rich but I didn’t come away with any money. I get to tell people that I created Dogecoin, which is fun.”
What is Dogecoin?
Dogecoin is a cryptocurrency which was launched in 2013.
Originally invented as a joke by the pair, the Dogecoin has the image of a Shuba Inu dog as its logo.
Two weeks after its launch, the value of it jumped 300 per cent after China banned banks from investing in cryptocurrencies, according to Investopedia.
Dogecoin then skyrocketed alongside other cryptos during the bubble that peaked in 2017, and it fell with the rest of them over 2018.
On April 13 2021, it reached a value of $0.09518 per coin, according to crypto data firm CoinMarketCap.
The Financial Conduct Authority (FCA) has warned people about the risks of investing in cryptocurrencies.