The founder of the popular meme asset Dogecoin (DOGE) reveals 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, say that traders should not put more money into crypto assets than they would like to see set on fire.
“My #1 rule of crypto is never put more money into it than you are willing to burn in a fire.”
Marcus continues name his preferred virtual currencies, which include the top two digital assets by market capitalization, Bitcoin (BTC) and Ethereum (ETH). He also described Dogecoin as “Bitcoin in a dog suit” and said he is not a fan of ERC-20 tokens, assets built on top of ETH.
“I like the big players (BTC, ETH), and Doge is just Bitcoin in a dog suit. I actually don’t like an ERC-20 token.
Earlier this year, Markus warned investors against investing in memecoins and non-fungible tokens (NFTs), saying the crypto space has become “dumb” over the past 10 years and likening it to gambling.
Dogecoin is trading at USD 0.0617 at the time of writing, down 8.1% in the past 24 hours.
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Image generated: Midway through the journey