Crypto Currency News

Michael Saylor questions Dogecoin and highlights the potential of Bitcoin

The Tesla CEO has warned DOGE investors to trade with caution.

MicroStrategy CEO Michael Saylor took advantage of the wave of fanaticism for Dogecoin (DOGE) to detach himself from the euphoria that was created around him and highlight the advantages of Bitcoin (BTC) that differentiate it from the crypto currency meme.

As Saylor explained , investors’ growing mistrust of the traditional financial system and its tools (bonds or treasury instruments), along with the growing quest for quick profits, have led many to seek out steep-growing crypto currencies. DOGE , with an annual jump close to 14,000% , stands out in this category .

The businessman directly warned DOGE investors to be very cautious when engaging in that market. In contrast, he cited BTC as the top digital asset of the ” next 100 years ” and suggested that no other currency could hold at that level for so long.

A few months ago, the CEO of Tesla announced that he had acquired some DOGEs on behalf of his son. For Saylor , however, the meme crypto currency is not the best alternative for HODL and he slipped that this would not be his legacy for generations to come.

I don’t think you want to leave Dogecoin to your grandson or granddaughter.

The CEO even joked about the crypto currency meme, likening it to buying a lottery ticket. “It’s a nice activity to do if you’re bored on a Saturday night with a chance to earn some money,” he added.

In any case, the great benchmark for institutional investments highlighted some aspects of DOGE . Its importance to the crypto market, beyond the current euphoria, is considerable. According to Saylor’s perspective, the crypto currency generates one ” consciousness ” and one ” enthusiasms mass ” among the newcomers to the market . In fact, he recalled that after the DOGE boom in late January, more than three million people entered the ecosystem.

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