Billy Markus, Dogecoin Creator, Proposes DOGE Join Bitcoin in Becoming a Strategic National Reserve Asset

His comment came in response to a post from Kalshi, a prediction market platform, which highlighted bettors' growing expectations that Trump

President-elect Donald Trump’s initiative to establish a national Bitcoin reserve is gaining steam nationwide, with several states, like Pennsylvania, already laying the groundwork for state Bitcoin reserves. In a surprising turn of events, Dogecoin creator Billy Markus, also known as Shibetoshi Nakamoto, has proposed that Dogecoin (DOGE) join Bitcoin in becoming a strategic national reserve asset on X.

His comment came in response to a post from Kalshi, a prediction market platform, which highlighted bettors’ growing expectations that Trump would initiate the creation of a Bitcoin reserve. As Bitcoin approaches the $100,000 mark and boasts a market capitalization of $1.8 trillion, the concept of designating it as a strategic reserve asset is becoming more palpable.

Bitcoin has risen to become the seventh-largest asset in the world, recently surpassing both silver and the oil giant Saudi Aramco. By Michael Saylor and Senator Lummis include Bitcoin in the strategic reserve, it could spark heightened interest from institutions and government entities and potentially propel its value to new record highs.

The Case for a Dogecoin Reserve

Now, turning to Dogecoin, the peer-to-peer open-source cryptocurrency was created in 2013 as a joke and is the leading meme-based cryptocurrency with a market capitalization of about $54.7 billion.

Dogecoin has attracted immense attention, largely thanks to high-profile endorsements from Elon Musk, who has playfully dubbed himself the “Dogefather.” Musk’s appearance on “Saturday Night Live” in May 2021, where he discussed Dogecoin, drove its price to an all-time high of $0.7316. Moreover, Tesla has begun accepting DOGE for certain merchandise, making the cryptocurrency useful for practical applications.

As we reported, the legal dispute involving Dogecoin and Elon Musk concluded on November 14, 2024, after investors decided to withdraw their appeal, making Dogecoin more appealing. The case, which started in 2022, alleged that Musk and Tesla manipulated Dogecoin’s price for personal gain.

Markus’ suggestion for a national Dogecoin reserve raises questions about the growing role of meme coins in government financial strategies. Whether or not these ideas come to fruition, the rapid ascent of both Bitcoin and Dogecoin showcases the evolving landscape. A U.S. Dogecoin Reserve would provide a safety net against extreme price volatility and signal increased confidence among investors and the broader financial community.

In other news concerning Dogecoin, Spirit Blockchain Capital announced the acquisition of Dogecoin Portfolio Holdings Corp, a company created by a group of forward-thinking entrepreneurs and Dogecoin supporters in October. Spirit’s acquisition of Dogecoin Holdings includes assets owned by Dogecoin supporters, such as a Dogecoin payment gateway, ETF platform technology geared towards Dogecoin, and $383,000 in cash.

Furthermore, Spirit is considering launching a Dogecoin-focused exchange-traded product to provide direct exposure to the asset. Currently, DOGE is trading up 2.22% in the last 24 hours and 29.13% in the past week at a price of $0.3723.

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