Billy Markus, the co-creator of the meme cryptocurrency dogecoin (DOGE), has issued a stark warning about the dangers of invest in the sector
In a series of tweets on April 22, Markus called putting money into digital assets as 'literally just investing in mental illness'.
"Investing in cryptocurrency is literally investing in mental illness, which I assume is on the rise," he said.
Markus's comments come in the middle of a bearish climate in the crypto market, with investors suffering significant losses after the euphoria of 2021 confinement; Traditionally, such recessions have been seen as favorable times to invest in the market.
NFT 'even more mentally ill'
The creator went ahead to attack some crypto products, specifically non-fungible tokens (NFTs), stating that "NFTs are a crypto derivative, so it's even more mentally ill." In particular, NFTs gained huge popularity in the cryptocurrency industry at one point, captivating the market with unprecedented sales.
However, interest in NFTs has since waned.
While reacting to the recent rise in the coin's value of the PEPE meme, the DOGE founder took aim at those who claim that making jokes about cryptocurrency is โpreventing generational wealthโ by calling the notion 'gross'.
โI'm reacting to people talking like making jokes about it is 'preventing generational wealth', which is disgusting. But because people are simple-minded protecting their bags like little kids, they brigade and act like jerks and do stupid shots like this because the brain is hard,โ she added.
Markus' Pessimistic Cryptographic Outlook
It is worth noting that Markus has, in recent years, taken a pessimistic approach to CRYPTOCURRENCIES. For example, in 2022, the creator of Dogecoin revealed that he had stopped investing in cryptocurrencies nine years ago, shortly after the introduction of DOGE. At the time, he claimed that investing in cryptocurrencies could be considered a form of gambling.
In this vein, Markus also hit out various digital currency projects centered on Binance Smart Chain (BSC). As reported by Finbold, Markus has labeled all BSC tokens as โjunkโ.
On another front, according to a Finbold reportJackson Palmer, co-founder of Dogecoin, expressed his desire for the crypto industry to end during the bear market of 2022.
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