Dogecoin Creator Issues Strong Warning About Crypto Investing; Here’s what he said

Billy Markus, the co-creator of meme cryptocurrency Dogecoin (DOGE), has issued a stark warning about the dangers of investing in the sector.

In a series of tweets on April 22, Markus wrote called putting money into digital assets as “literally just investing in mental illness.”

“Investing in crypto is literally just investing in mental illness, which I guess is on the rise,” he said.

Markus’ remarks come amid a bearish climate in the crypto market, with investors suffering significant losses following the euphoria of the 2021 bull run; traditionally, such downturns have been seen as favorable times to invest in the market.

NFTs are “even more mentally ill”

The creator went on to attack some crypto products, especially non-fungible tokens (NFTs), saying that “NFTs are a crypto derivative, so it’s like even more mentally ill”. In particular, NFTs gained massive popularity in the crypto industry at one point, capturing the market with unprecedented sales

However, interest in NFTs has since waned.

While reacting to the recent rise in the value of the PEPE meme coin, the DOGE founder took aim at those who claim that making jokes about cryptocurrency is “preventing generational wealth”, labeling the idea as “gross”.

“I’m reacting to people talking like making jokes about it ‘preventing generational wealth’, which is gross. But since people are simpletons who protect their purses like babies, they brigade and act like idiots and take stupid moves like this because the brain is difficult, he added.

Mark’s pessimistic crypto outlook

It is worth noting that in recent years Markus has taken a pessimistic approach to cryptocurrencies. For example, in 2022, the Dogecoin creator revealed that he had stopped investing in cryptocurrency nine years ago, shortly after DOGE’s introduction. At the time, he stated that investing in crypto could be considered a form of gambling.

Along these lines, Markus also pitched several digital currency projects focusing on the Binance Smart Chain (BSC). As reported by Finbold, Markus called all BSC tokens “junk”.

On another front, according to a Finbold report, Jackson Palmer, a co-founder of Dogecoin, expressed his desire for the crypto industry to end during the 2022 bear market.

Disclaimer: The content of this page should not be considered investment advice. Investment is speculative. When you invest, your capital is at risk.