Dogecoin Founder Reacts to New Bitcoin ATH, Here’s ‘Hot’ Take

Billy Markus, who created the iconic meme cryptocurrency Dogecoin with Jackson Palmer, has taken to his X account to comment on the new Bitcoin all-time high reached on Wednesday as BTC came close to the $112,000 level.

Dogecoin founder’s “hot” take on the new Bitcoin ATH

Markus posts on the X network under the “Shibetoshi Nakamoto” pseudonym, and he is widely known for his playful, ironic, and sometimes sarcastic takes on everything to do with crypto, particularly when it comes to crypto investing/trading or to the reasons why the crypto prices are going up or down.

In his tweet, Markus published a BTC/USD chart, showing a rise above $111,000, with a jesting caption: “Bitcoin boner.” This was his “hot” take on this new ATH in all the senses of the word.

In his earlier tweets, Markus admitted that he only owns 0.006 BTC and he will not sell it until Bitcoin reaches $1 billion per coin. This was likely again a sarcastic comment he is known for on social media.

Overall, Shibetoshi Nakamoto (even his X name reflects a joke on the name of the Bitcoin creator, Satoshi Nakamoto) does not think that the crypto market follows any rules or that there is any logic behind its rises and falls, but that it is rather driven by chaotic forces. Therefore, he does not believe in crypto investment and often reminds his readers on X about this fact.

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Binance’s CZ: Hope you bought the dip

Changpeng Zhao, often known in the crypto community simply as CZ, also posted his reaction as Bitcoin achieved a new historic price high. First of all, he cited his own tweet published on June 23, where he said: “Remember, by definition, everything before the next ATH is a dip.” Citing himself, CZ mentioned the new all-time high, saying: “Hope you bought the dip.”

CZ also revealed a necessary condition for any digital network to experience exponential growth, likely meaning Bitcoin. In this regard, he mentioned Metcalfe’s law. This observation notes that the bigger the number of connected users is, the faster a network grows.

“As more users join a network (social media, messaging app, or blockchain), the possible connections/value increases exponentially, not linearly,” CZ explained, hinting that this is what is happening to Bitcoin at the moment, and the new all-time high is a fine proof of that.