dailyhodl.com
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.
Generated Image: Midjourney