Honda Civic Moment Redux: Dogecoin Co-Founder Billy Markus Weighs In on Strategy's Bitcoin Sale Plans
Dogecoin co-founder Billy Markus sparked renewed attention to his famous 2015 DOGE sell-off after commenting on reports that Strategy may liquidate up to $1.25 billion worth of Bitcoin from its 847,363 BTC holdings.
The crypto world is once again buzzing about Dogecoin co-founder Billy Markus — known online as "Shibetoshi Nakamoto" — after he responded publicly to reports that Strategy, the largest publicly traded Bitcoin-holding company in the world, might offload a portion of its massive BTC reserves worth approximately $1.25 billion.
As of June 22, Strategy holds an impressive 847,363 BTC on its balance sheet. To raise $1.25 billion at current market prices, the company would need to sell roughly 20,800 BTC — approximately 2.5% of its total holdings. The announcement sent ripples across the crypto community, drawing commentary from investors, analysts, and even prominent figures like Markus himself.
In a post on X, Markus shared a video compilation featuring tweets from Strategy's executive chairman Michael Saylor — long regarded as one of Bitcoin's most outspoken advocates — in which Saylor repeatedly urged holders to never sell their BTC under any circumstances. The implied irony was not lost on the community.
The post quickly gained traction, but it also reignited a familiar story. One X user was quick to remind followers of Markus' own notable sell-off: back in 2015, just two years after co-founding Dogecoin in 2013, Markus liquidated his entire cryptocurrency portfolio — including all of his DOGE — for around $10,000. At the time, he had recently been laid off from his job and needed the funds to cover rent and basic living expenses. The sum was roughly equivalent to the price of a used Honda Civic, a comparison that has since become something of a legendary anecdote in crypto circles.
Rather than taking offense, Markus responded with characteristic humor, posting a meme GIF that conveyed a breezy "I'm fine" attitude toward the whole episode. His lighthearted approach has become a defining trait of his public persona, and it continues to endear him to the Dogecoin community despite — or perhaps because of — the infamous sell-off.
Meanwhile, the substance of Strategy's announcement deserves closer examination. The company's Board of Directors officially authorized what it calls a "BTC Monetization Program," which outlines three key purposes for any potential Bitcoin sales: first, to generate up to $1.25 billion for a USD Reserve fund; second, to cover preferred stock dividends and interest payments, or to replenish the USD Reserve after such costs; and third, to fund potential buybacks of Digital Credit Securities or Class A common shares.
Importantly, Strategy clarified that the program does not create any binding obligation to sell Bitcoin or to fund any specific payment through BTC proceeds. The BTC Monetization Program carries no fixed expiration date and can be paused, altered, or canceled at the company's discretion at any time.
Critics, including economist Peter Schiff, have raised concerns about what a BTC price decline could mean for Strategy's financial position, suggesting that falling prices might force the company into a difficult cycle of selling more Bitcoin to meet obligations — a scenario some have described as a potential "death spiral."
For now, the Dogecoin co-founder's nostalgic Honda Civic moment has found new relevance in an unexpected context, serving as a reminder that even the most principled crypto convictions can be tested by real-world financial pressures.
