The founder of popular meme asset Dogecoin (DOGE) is revealing his number one rule when it comes to investing in digital assets, as well as his favorite tokens.
In a new thread, DOGE co-creator Billy Markus, also known as Shibetoshi Nakamoto, says that traders should not put more money into crypto assets than they’d be willing to see set ablaze in a fire.
“My #1 rule of crypto is never put more money into it than you’re willing to burn in a fire.”
Markus goes on to name his favorite virtual currencies, which include the top two digital assets by market cap, Bitcoin (BTC) and Ethereum (ETH). He also described Dogecoin as “Bitcoin in a dog suit” and said that he’s not a fan of ERC-20 tokens, assets built on top of ETH.
“I like the major players (BTC, ETH), and Doge is just Bitcoin in a dog suit. I don’t like basically any ERC-20 token.”
Earlier this year, Markus warned investors against investing in memecoins and non-fungible tokens (NFTs), saying that the crypto space has become “stupider” during the last 10 years, likening it to gambling.
Dogecoin is trading for $0.0617 at time of writing, an 8.1% decrease during the last 24 hours.Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
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