Cryptocurrency News & Updates

Dogecoin founder suggests people invest in SPY 

Billy Markus noted that the majority of the people in the crypto sector are now in full fear & they need to focus investment in SPY-like things.

Billy Markus is one of the co-founders of the popular meme coin “Doge”. In 2013, he co-founded Dogecoin with his friend Billy Markus. At present, Dogecoin is the top-ranked meme coin. Before 2020, Doge was a fully unpopular token but Tesla CEO Elon Musk started to talk about this coin & made it a highly popular & flagship crypto asset. 

On 20 May, Billy tweeted that if you feel emotional about the wildly speculative price of any cryptocurrency then it is a good sign that you are overexposed.

Indirectly, Billy slammed all those crypto assets trade price speculations & also those people who remain ready to see such speculations to invest money. 

One of his followers asked for advice from him to remain away from the fear of crypto asset price collapse. 

Billy suggested investing in high-yield accounts or SPY-like things. 

Note: In general if a person invests $25,000 in SPY stock, then he receives $400 a year, paid quarterly, against the investment.

It is worth it to note that Billy is the founder of a popular crypto token but he is not a crypto Investor, as the price of the crypto assets keeps up & down badly. 

In the past, Billy confirmed that he stopped investment in crypto assets just after the launch of Dogecoin. In Dec 2022, he sold a big amount of his Ethereum holdings to pay his taxes.

Read also: Ethereum co-founder says Ethereum Classic is a scam