Why Dogecoin Co-Founder Is Glad He Didn't Get Rich With Crypto

Dogecoin DOGE/USD co-founder Jackson Palmer has said that he is glad that cryptocurrency didn’t make him rich because it keeps him humble.

What Happened: In a recent interview with The Project, Palmer said he would have had a “really weird view of the world” if he became a millionaire off a dog on a coin.

Jackson Palmer helped create Dogecoin as a joke, but now the Aussie co-founder has a warning for those looking to start trading in cryptocurrency, saying more people lose money than those who get rich.#TheProjectTV pic.twitter.com/b4vrI149Iy

— The Project (@theprojecttv) June 12, 2022

In 2021, Dogecoin rallied over 18,000% to an all-time high of 73 cents. The coin reached its peak price shortly before Tesla Inc TSLA CEO and Dogecoin bull Elon Musk made an appearance on Saturday Night Live, with many expecting him to discuss the meme coin on air.

See Also: How to Buy Dogecoin (DOGE)

When asked whether he had made money out of his invention, Palmer said he had not.

“We thought it was going to be a joke and we didn’t keep any money or any of it,” he said.

Palmer left the project only a year after it was created and has now turned into a cryptocurrency skeptic, describing digital coins as speculative investments and comparing their market to an online casino.

“In many ways, I’m glad that it [Dogecoin] didn’t make me rich because I think it’s important to look at what it’s doing to the rest of society,” said Palmer.

“I think you kind of have rose-tinted glasses if you’re a crypto millionaire, you’re kinda like “Oh this is great”, while a lot of other people, I think, are unfortunately losing their money.”

Price Action: According to data from Benzinga Pro, DOGE was trading at $0.05, down 8.4% over the last 24 hours. The coin is trading 91.8% lower than its all-time high.