Dogecoin Founder Shares Top Crypto Investing Rule and Token Picks
Billy Markus, co-creator of popular meme token Dogecoin, recently offered his perspective on crypto investing best practices and favorite assets.
In a thread, Markus stated his number one rule is to never invest more money than you'd be willing to lose completely.
"My #1 rule of crypto is never put more money into it than you're willing to burn in a fire," he wrote.
Top Token Picks
Markus named Bitcoin and Ethereum as his favored crypto assets, along with Dogecoin, which he described as "Bitcoin in a dog suit."
However, he expressed disinterest in Ethereum-based ERC-20 tokens in general.
Words of Caution
Earlier this year, Markus warned investors against speculative meme tokens and NFTs. He feels the crypto space has become overly gambling-oriented in recent years.
His comments highlight the divergent views on crypto's future - as an investment asset class or a medium of exchange.
Ongoing Volatility
Markus' warnings come amidst a period of volatility, with Dogecoin down 8% in the last 24 hours. The meme token's long-term outlook remains debated.
His advice underscores the need for cautious capital allocation and long-term perspective in crypto investing.
Should Crypto Be Viewed as an Investment or Currency?
Crypto likely needs elements of both to reach mainstream adoption. Coins like Bitcoin provide a store of value and investment upside. But more stable, usable tokens better serve as everyday currency.
In practice, people may invest in cryptos like stocks while using stablecoins for payments. The technology can fill multiple roles when applied thoughtfully.
How Can Crypto Investing Become More Responsible?
- Education on risks
- Transparent analytics
- Advisory regulation on marketing practices
- Protection for vulnerable groups
- Tools to limit excessive trading
- Defaults to prudent capital allocation
The industry should self-regulate to promote responsible practices. And policy should aim to deter fraud while encouraging ethical crypto innovators.
In summary, Dogecoin founder Billy Markus offers prudent investment wisdom - don't risk what you can't afford to lose. Crypto likely requires both stability and upside to succeed long-term. With thoughtful development and smart regulation, it can responsibly evolve to fulfill its potential.
