Dogecoin Creator Breaks Silence As Bitcoin Loses $55,000

Billy Markus who is known on Twitter/X as Shibetoshi Nakamoto and who created Dogecoin together with Jackson Palmer in 2013 is a popular crypto influencer on the above-mentioned social media platform.

He has issued a tweet as the Bitcoin bloodbath continues, making a dark ironic statement. These statements started on Thursday, when the world’s largest cryptocurrency fell close to the $57,000 price level.

Bitcoin falls through bottom, Markus comments

Dogecoin co-creator took to the X platform on the US Independence Day to make a combination of an ironic comment on the Bitcoin collapse and a celebratory tweet related to July 4.

He tweeted: “Happy 4th of July” with a “smiling face with tear” emoji. The tweet was accompanied with a chart on which collapsing Bitcoin hit $55,465.

happy 4th of july 🥲 pic.twitter.com/fYtzb7p55h

— Shibetoshi Nakamoto (@BillyM2k) July 5, 2024

When Bitcoin fell well below $58,000 on Thursday, Shibetoshi Nakamoto tweeted “Bitcoin dammit.” A day before, he responded to numerous Bitcoiners and Bitcoin maxis who idealize the largest digital currency and claim that it “represents freedom”. Markus tweeted: “Freedom that slowly erodes when the price goes down.”

bitcoin represents freedom

freedom that slowly erodes when the price goes down

— Shibetoshi Nakamoto (@BillyM2k) July 3, 2024

Bitcoin plunges to $53,870

Over the past 24 hours, digital gold has lost 10.67%, collapsing from the $60,341 zone to the $53,879. In total, since Monday Bitcoin has lost more than 15%, losing nearly $10,000 in price.

By now, BTC has rebounded a little and is changing hands at $54,366. JAN3 chief executive Samson Mow yesterday tweeted that he believes whales are currently buying all the Bitcoin dips on the Bitfinex exchange. A week ago, on Friday, he warned that the cryptocurrency market would consume all the current BTC sales.

While miners keep selling their long-term BTC stashes and continue to sell newly-mined Bitcoin, the US and German government also have been dumping massive amounts of Bitcoin. Tron Founder Justin Sun has tweeted that he is willing to negotiate with the German government and buy all their BTC to minimize the effect on the cryptocurrency market.

I am willing to negotiate with the German government to purchase all BTC off-market in order to minimize the impact on the market.

— H.E. Justin Sun 孙宇晨 (@justinsuntron) July 4, 2024

Aside from that, word has been spread that one of the first Bitcoin exchanges in history, Mt Gox, has started moving BTC to repay what it owes to the investors. Today in transferred $84.87 million in Bitcoin to the Bitbank exchange. Yesterday, it moved $2.71 billion worth of BTC in preparation for those payouts.

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