Dogecoin Founder Suggests Millennials’ Retirement Savings Amount to 1 Bitcoin, But There’s a Catch

Billy Markus, known as Shibetoshi Nakamoto on social media, recently shared his insights on millennials’ retirement savings on his X account. As is typical for Markus, he infused his commentary with irony, attracting the attention of his 2.1 million followers.

Markus pointed out that millennials’ retirement savings are significantly below their goals, estimating that they need approximately $1.65 million for a comfortable retirement. However, he humorously noted that, thus far, they have saved around $62,600. This figure seems to serve as a metaphor to highlight the challenges posed by current inflation in the U.S., which makes it difficult for individuals to consistently save larger amounts for retirement.

He added that millennials, aged between 28 and 43, plan to retire by age 59, which seems increasingly challenging given the amount they have saved. This sparked a lively discussion among followers, with reactions ranging from humorous agreement to debates about the feasibility of retiring at 59 with adequate savings.

Many commenters also discussed the effects of rising inflation and increasing national debt, expressing concerns about their impact on everyday finances.

Interestingly, Markus’s mention of the $62,600 figure aligns with the price of Bitcoin at the time of his post. Known for his commentary on cryptocurrency, he has previously stated that he would prefer to own one full Bitcoin over Dogecoin. This may suggest a connection between his remarks about retirement savings and millennials’ interest in digital currencies.