Billy Markus, co-founder of Dogecoin, has once again turned to social media to share his satirical take on recent market movements. The cryptocurrency developer posted a meme claiming he sold his digital assets to purchase gold and silver, coinciding with a dramatic shift in global markets.
The post came as a response to The Kobeissi Letter, which reported that cryptocurrency markets lost $1.7 trillion in market capitalization within 90 minutes. The financial analysis firm described the event as one of the largest market reversals in recorded history.
Markus, known for his ironic commentary on X, used the meme format to highlight the stark contrast between cryptocurrency performance and precious metal gains. His post reflects his long-standing skeptical stance toward crypto trading despite creating one of the most recognized digital currencies.
Bitcoin Struggles Amid Market Volatility
Bitcoin experienced significant turbulence over the past week. The leading cryptocurrency dropped nearly 8% between Monday and Sunday, falling from $93,300 to approximately $86,400. The digital asset briefly recovered 2.68% to reach $88,720 before encountering resistance.
The recovery proved short-lived as Bitcoin reversed course and settled back around $88,351 at the time of reporting. This volatility demonstrates the ongoing challenges facing cryptocurrency markets during periods of geopolitical uncertainty.
Markus has repeatedly expressed skepticism about Bitcoin’s role as an investment vehicle. He views the digital currency as a speculative asset vulnerable to displacement when alternative investments gain momentum. His perspective stands in contrast to many cryptocurrency enthusiasts who champion Bitcoin as a hedge against traditional financial systems.
Gold and silver reached new all-time highs amid escalating global tensions. Investors seeking safe-haven assets drove demand for precious metals, pushing prices to unprecedented levels. This movement reflects traditional market behavior during periods of uncertainty.
The precious metal rally attracted attention from prominent investors beyond the cryptocurrency space. Robert Kiyosaki, author of “Rich Dad Poor Dad,” celebrated the surge in gold and silver prices. Kiyosaki has advocated a diversified investment approach, including Bitcoin, gold, and silver, for over 6 years.
His consistent messaging across social media platforms promotes these three assets as a form of protection against economic instability. The recent price movements align with his long-term investment philosophy and recommendations.
Source: https://coinpaper.com/14082/dogecoin-creator-mocks-crypto-price-crash-as-gold-and-silver-hit-all-time-highs
