Billy Markus, the co-creator of the meme cryptocurrency Dogecoin (DOGE), issued a strong warning about the dangers of investing in the sector.
In a series of tweets on April 22, Markus called putting money into digital assets as ‘literally investing in mental illness.’
“Investing in crypto is literally just investing in mental illness, which I think is on the rise,” he said.
Markus’ statements come amid a heavy climate in the crypto market, with investors suffering heavy losses after the euphoria of the 2021 bull run; traditionally, such downturns are considered favorable times to invest in the market.
NFTs are ‘more mentally ill’
The creator continues to attack some crypto products, especially non-fungible tokens (NFT), saying that “NFTs are a crypto derivative so it’s like, more mentally ill” . Notably, NFTs gained a lot of popularity in the crypto industry at one point, capturing the market with unprecedented sales.
However, interest in NFTs has since waned.
While reacting to the recent spike in the value of the PEPE meme coin, the DOGE founder addressed those who claim that making jokes about cryptocurrency is “preventing generational wealth” while calling the idea as ‘gross. ‘
“I react to people talking as if joking about this “generational wealth prevention,” which is terrible. But because people are simply protecting their bags like little children, they are -brigade and act like idiots and do stupid things like this because the brain is hard,” he added.
Markus pessimistic view of crypto
It is worth noting that Markus, in recent years, has adopted a pessimistic approach regarding cryptocurrencies. For example, in 2022, the creator of Dogecoin revealed that he stopped investing in cryptocurrency nine years ago, shortly after the introduction of DOGE. At the time, he stated that investing in crypto can be considered a form of gambling.
In this line, Markus has also hit on several digital currency projects focusing on Binance Smart Chain (BSC). As reported by Finbold, Markus called all BSC tokens ‘trash.’
On another front, according to a Finbold report, Jackson Palmer, a fellow co-founder of Dogecoin, expressed his desire to end the crypto industry during the 2022 bear market.
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