Dogecoin creator Billy Markus, known as Shibetoshi Nakamoto on social media, has taken to his X account to share his take on how things currently stand with millennials’ retirement savings.
As he frequently does, Markus added a pinch of irony to his opinion, but this is apparently how he continues to attract the interest of his 2.1 million X followers.
The figures revealed by Markus hint that, so far, millennials’ retirement savings are nowhere near their target and equal approximately one Bitcoin.
Markus highlights major issue with millennials' pension savings
Shibetoshi Nakamoto dwelled on the statistic that millennials need approximately $1.65 million for a comfortable retirement - without citing a reference, though. He then stated ironically that, so far, they likely have not saved much and mentioned the figure of $62,600 – perhaps that was a random or metaphoric choice just to show that the current inflation in the U.S. does not provide the most stimulating environment for making regular and large retirement savings.
millennials believe they will need ~$1.65 million to retire comfortably millennials have saved ~$62,600millennials expect to retire by age 59😬
— Shibetoshi Nakamoto (@BillyM2k) July 17, 2024
However, Markus added, millennials have a plan to retire by the time they turn 59, posting a “grimacing face” emoji. Taking into account the statistic that millennials (the generation born between 1981 and 1996) have reached the ages of 28-43 years old, those who were born in 1981 or slightly later will perhaps hardly manage to set aside $1.65 million by age 59. This seems to be Billy Markus’s message, which triggered a heated discussion in the comments, where X users posted mixed reactions – from agreeing to Markus’s take with humor to sharing arguments as to whether millennials will have to retire about 10 years after they turn 59 or with less money saved.
Many also raised the issues of current inflation in the U.S., and the growing state debt, which can hardly have a good financial impact on average people’s bank balance.
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Did DOGE founder just hint at Bitcoin?
In his tweet, Markus mentioned the $62,600 figure, which is how much the world’s flagship cryptocurrency, Bitcoin, was worth on Tuesday. Shibetoshi Nakamoto frequently talks about BTC in his tweets, commenting on the Bitcoin price turbulence and investing in Bitcoin.
Earlier this year, he even admitted he would rather have one whole Bitcoin than one Dogecoin. Thus, he could be hinting at BTC and millennials’ love for this new fintech when mentioning the sum of $62,600.
