Well-known investor warns young people: stay away from ‘junk coins’ such as DOGE, SHIB, PEPE

-->Striking advice from Tesla investor Ross Gerber today for the crypto world: young investors should beware of the so-called ‘shitcoins’, and instead focus on king Bitcoin (BTC). And otherwise probably ‘queen’ Ethereum (ETH). Gerber made these statements on Monday on the social platform X.

With the words “Avoid the shtcoins! Don’t make this mistake again. Stick to the king, Bitcoin. Or the queen, ETH. But please, not this again. Avoid shtcoins! #BTC,” he made his position clear.

The call comes at a time when alternative and lesser-known cryptos, such as Dogecoin (DOGE), Shiba Inu (SHIB) and PepeCoin (PEPE), are back in the spotlight. These so-called ‘junk coins’ are often the subject of speculation and can cause major losses to inexperienced investors.

Please kids. Avoid the shitcoins. Do not make this mistake again. Stick to the king, Bitcoin. Or queen, ETH. But please not this again. Avoid shitcoins! #BTC

— Ross Gerber (@GerberKawasaki) March 11, 2024

Ross Gerber is a well-known figure in the investment world, mainly because of his optimistic attitude towards Tesla and its founder, Elon Musk. His advice and statements are closely followed by a wide audience of both traditional and crypto investors.

Gerber is co-founder, president and CEO of Gerber Kawasaki Wealth and Investment Management. He oversees both Gerber Kawasaki’s operations and investment management activities and also provides services to individual clients. Ross has become one of the most followed investors on both social and traditional media.