Billy Marcus, co-creator of the memetic cryptocurrency Dogecoin (DOGE), has issued a stern warning about the dangers of investing in this sector.
In a series of tweets on April 22nd, Markus called Putting money into digital assets as “literally just investing in mental illness”.
“Investing in cryptocurrency is literally investing in mental illness, and I think it’s on the rise,” he said.
Marcus’ remarks come at a time of bearishness in the cryptocurrency market, with investors suffering heavy losses following the euphoria of the 2021 bull market. Traditionally, recessions like this have been viewed as a favorable time to invest in the market.
NFTs are ‘even more mentally ill’
Authors have attacked several crypto products, especially non-fungible tokens (NFTs), stating that “NFTs are even more mentally ill because they are derivatives of crypto.” . In particular, NFTs were very popular in the cryptocurrency industry for a period of time, attracting the market with unprecedented sales.
However, interest in NFTs has since declined.
While reacting to the recent surge in value of the PEPE meme coin, DOGE founders argued that joking about cryptocurrencies “hampers generational wealth,” calling the concept “gross.” It was intended for people calling.
“I’m reacting as if what people are joking about is ‘blocking generational wealth,’ which is terrible. But because people are simple people who protect their bags like baby kids, they band together and act like idiots, and their brains are hard, so they act stupid like this.
Marcus’ pessimistic crypto outlook
It’s worth noting that Markus has taken a pessimistic approach to cryptocurrencies in recent years. For example, in 2022, the creators of Dogecoin revealed that they stopped investing in cryptocurrencies nine years ago, shortly after DOGE was introduced. At the time, he said that investing in cryptocurrencies could be considered a form of gambling.
In this line, Markus has also launched several digital currency projects focused on Binance Smart Chain (BSC). As reported by Finbold, Markus called all his BSC tokens “garbage.”
On the other side, Finbold reports that Dogecoin co-founder Jackson Palmer has expressed his desire to see the end of the crypto industry during the 2022 bear market.
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