Dogecoin co-creator, Billy Markus has rebutted Jim Cramer’s opinion on Dogecoin being security, he clarified that Dogecoin has 99.5 percent of the same code as Bitcoin.
Jim Cramer, the host of Mad Money on CNBC, had warned investors yesterday on the possibility of Dogecoin being a security and the likelihood of it being regulated. He said, “please be careful with Dogecoin…It is a security. It will be regulated.”
Commenting on Jim’s tweet, Billy Markus asked him to educate himself before drawing such conclusions on Dogecoin. He said, “bro, please learn how blockchain works. it’s already well known how many there are and how many are created everyday. it is in the public code on the public blockchain, easily viewable by anyone
“in terms of ‘security,’ it is a proof of work cryptocurrency so you have to put in work to retrieve the coins from the block, it doesn’t qualify under the Howey test. it works the same as bitcoin. in fact, it’s 99.5% the same code as bitcoin. please educate yourself.”
Markus further tweeted, “The biggest bull signal ever for dogecoin.”
Dogecoin is the 11th largest cryptocurrency by market capitalization. At press time Dogecoin is trading at $0.1358, down by 3.44 percent in the last 24 trading hours.
Dogecoin is 81.58 percent down from its All-Time High of $0.7376 traded in May 2021.