Ever wondered what the guiding principle of investing in cryptocurrencies could be? Billy Markus, the co-founder of the famed meme cryptocurrency, Dogecoin (DOGE), has shed light on this. Markus, also popularly known as Shibetoshi Nakamoto, has revealed his number one rule for crypto investment, along with his preferred digital tokens.
Markus’s Golden Rule for Cryptocurrency Investment
According to Markus, the number one rule for crypto is straightforward and perhaps, somewhat startling. He advises traders not to invest more in digital assets than they would be comfortable watching go up in flames. In his words, “My #1 rule of crypto is never put more money into it than you’re willing to burn in a fire.”
The Cryptocurrencies Markus Favors
Markus’s choice of virtual currencies leans towards the major players in the field. He has a preference for Bitcoin (BTC) and Ethereum (ETH), the top two digital assets by market capitalization. Interestingly, Markus describes Dogecoin as “Bitcoin in a dog suit”, indicating his fondness for his creation. However, he expressed his disinterest in ERC-20 tokens, which are assets built on the Ethereum platform. He stated, “I don’t like basically any ERC-20 token.”
Markus’s Take on Memecoins and Non-Fungible Tokens (NFTs)
Earlier this year, Markus cautioned investors about putting their money in memecoins and non-fungible tokens (NFTs). He voiced his opinion that the crypto space has become more irrational over the last decade, comparing it to gambling.
At the time of writing, Dogecoin is trading at $0.0617, witnessing an 8.1% decrease over the last 24 hours. For those interested in staying updated with the latest cryptocurrency news and trends, the application cryptoview.io can be a handy tool. It offers an easy and convenient way to keep track of the rapidly changing crypto market.
Please remember that investing in cryptocurrencies or any digital assets involves risk. Always conduct thorough research and exercise caution when making such investments.
