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Billy Markus, the co-founder of Dogecoin (DOGE), the most popular and largest memecoin in terms of market value, has revealed his number one rule when it comes to investing in cryptocurrencies and shared his favorite cryptocurrencies.
Revealing His Favorite Cryptocurrencies and Number One Crypto Rule
Billy Markus, also known as Shibetoshi Nakamoto, the co-founder of DOGE, shared his number one rule when it comes to investing in cryptocurrencies on his personal Twitter account. Markus stated that investors should not invest more money than they are willing to burn in a fire, saying:
My number one rule about cryptocurrencies is to never invest more money than you are willing to burn in a fire.
Markus also revealed his favorite cryptocurrencies, including the two largest cryptocurrencies by market value, Bitcoin (BTC) and Ethereum (ETH). Referring to Dogecoin as a Bitcoin dressed in a dog costume, the famous figure also added that he is not a fan of ERC-20 tokens, which are assets built on the Ethereum Blockchain, saying:
I love the big players (BTC and ETH), and DOGE is just a Bitcoin dressed in a dog costume. Basically, I don’t like any ERC-20 tokens.
According to CoinMarketCap data, the largest cryptocurrency Bitcoin is trading at $25,944 with a 1.59% decrease in the last 24 hours, while the price of the largest altcoin Ethereum has changed hands at $1,658 with a 0.73% decrease in the same time period. On the other hand, Dogecoin is trading at $0.0637 with a 4.46% increase in the last 24 hours.
Warned About Memecoins and NFTs at the Beginning of the Year
The co-founder of Dogecoin made headlines earlier this year when he warned investors not to invest in memecoins and NFTs. Markus emphasized that the cryptocurrency market has become quite absurd in the past 10 years and compared it to a casino.
