coinspress.com
Billy Markus, the co-creator of Dogecoin (DOGE), has recently warned about the dangers of investing in cryptocurrencies.
In a series of tweets, Markus referred to investing in digital assets as “literally just investing in mental illness.” He also criticized non-fungible tokens (NFTs) as “even more mentally ill,” despite their previous popularity in the market.
investing in crypto is literally just investing in mental illness
which i suppose is on the rise, so…
— Shibetoshi Nakamoto (@BillyM2k) April 22, 2023
Markus’ skepticism about cryptocurrencies is not new, as he had previously revealed that he stopped investing in them nine years ago, considering them a form of gambling.
Additionally, Markus has criticized several digital currency projects, including those focusing on the Binance Smart Chain (BSC), calling them “garbage.”
According to reports, Jackson Palmer, one of the co-founders of DOGE along with Markus, has voiced his concerns regarding the future of the crypto industry. Palmer believes that the market downturn in 2022 may signal the end of the road for cryptocurrencies.
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Markus shares a similar view, cautioning investors about the potential risks involved in investing in the current bearish climate.
While market downturns are typically seen as an opportunity to invest, the opinions of Markus and Palmer suggest that the risks may now outweigh the potential benefits of investing in cryptocurrencies.
The recent losses suffered by investors following the bullish period of 2021 have added to these concerns.