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

Dogecoin (CRYPTO: DOGE) 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 (NASDAQ: 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.