The owner of the world’s largest Dogecoin cryptocurrency wallet has amassed a $ 2.1 billion (£ 1.5 billion) stake after the digital asset skyrocketed in value.
Dogecoin has risen more than 950 percentage points from less than half a cent to more than five cents per coin since the beginning of the year as Reddit users poured into the joke cryptocurrency based on the meme of a smiling Shiba Inu.
28 PCs of all Dogecoin in existence, a cryptocurrency that started as a hoax in 2013, are owned by a single account, the Wall Street Journal reported.
Speculation is now mounting that the owner is Tesla billionaire Elon Musk, who is following his history of promoting Dogecoin, including Twitter posts calling it “the funniest crypto” and “the people’s crypto”.
Rumors were fueled by the public record of transactions sent to the account. At least 20 Dogecoin transactions were carried out in amounts of exactly 28.061971 Dogecoin. Mr. Musk was born on June 28, 1971.
He also recently said “too much focus” was the only real problem with the cryptocurrency before saying it would pay the biggest holders to “void their accounts”.