DOGE Co-Founder Explains How Wall Street Could “Repackage” Dogecoin and What For


Co-creator of Dogecoin opines on how Wall Street funds could adjust meme coin should they become interested in it

Computer engineer Billy Markus, who created Dogecoin as a parody of Bitcoin in 2013 with Jackson Palmer, took to Twitter to reflect publicly and post some “maybe one day” thoughts on DOGE.

In particular, he believes that should the meme coin become acknowledged by the Wall Street, bankers and traders would turn it into a somewhat different asset compared to the original coin.

Furthermore, he also hinted that Dogecoin could succeed where Bitcoin has failed so far.

“Wall Street would just repackage Dogecoin”

Markus wondered if DOGE could succeed where Bitcoin has so far failed – in the emergence of Dogecoin exchange-traded funds. He has jokingly assumed that Wall Street and banks would be “too humorless” to permit Dogecoin-based ETFs.

But in the thread’s next tweet, the coin’s co-creator soberly admitted that to succeed in the ETF space and generally win Wall Street’s interest, bankers and traders “would just repackage it to make it look fancy”. so that it is easier to earn money on DOGE.

Short Bitcoin ETF has been launched

As reported by U.Today earlier, Bitcoin fund ProShares confirmed the launch of a short Bitcoin futures ETF with ticker BITI to take place on June 21.

Last year, at the end of October, ProShares launched the first Bitcoin futures ETF, BITO, which opened long Bitcoin trades. Now, the company has enabled BTC trading in both directions – long and short.

Head of Grayscale crypto fund Michael Sonnenshein believes that opening an ETF for shorting Bitcoin is an overall positive for the crypto space since this indicates the Securities and Exchange Commission is warming up to the leading digital currency.


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