Why Buying Dogecoin Is Bad For Minorities & Racist

Updated on

Dogecoin has been making waves in the crypto currency world lately has it has seen a almost 3 fold increase within the past week alone surging off social media buzz. While Dogecoin was designed as a joke and the creator constantly reinstates that it has no use and to be careful with purchasing it, it is still being pumped by both influencers and 15 year old who had a Robinhood account with a $100 made and given to them by there Dad who was hoping they would just buy a S&P 500 index.

Get The Full Henry Singleton Series in PDF

Get the entire 4-part series on Henry Singleton in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues

Q1 2021 hedge fund letters, conferences and more

The Biggest Glaring Issue With Dogecoin

But the biggest glaring issue with Dogecoin is how it negatively effects minorities. It is being pumped as a get rich quick scheme, advertising it to minorities living pay check to pay check as a ticket out of poverty. Many people are abusing the average persons lack of knowledge of crypto currency to keep this scam running so, I’ll flat out say it. If you own Dogecoin, you are racist.

We need to promote genuine financial education amongst the poverty class instead of swaying people to invest there money into a meaningless shitcoin on a whim. Most Doge holders will be much better off simply buying a mutual fund for an average annual return of 2%. Over many years, typically 50, this will guide them to retirement so long as they consistently invest there money and let it compound. If you are someone who has made a profit off Dogecoin, congratulations, this does not make you any less of a racist piece of shit. I encourage those who have made a profit to sell now and get out while they can before they get left holding the bags.

This article first appeared on The Stonk Market

Disclaimer: This is a satirical article.

Signup to ValueWalk!

Get the latest posts on what's happening in the hedge fund and investing world sent straight to your inbox! 
This is information you won't get anywhere else!