Ignore Dogecoin -- These 3 Unique Stocks Are Infinitely Better Buys
Dogecoin (CRYPTO: DOGE) has emerged as one of the most hyped assets in the market today. This is understandable, considering that the cryptocurrency is up 7,733% so far this year, far ahead of the benchmark S&P 500's returns of 11.84% in the same time frame.
Investors, however, should also consider Dogecoin's high volatility. Dogecoin has tanked by more than 50% from its all-time high of $0.74 in the past month (so, yes, at one point it was up more than 14,000%). This cryptocurrency is not backed by any asset and hardly has any sustainable advantage over rivals in terms of transaction fees or processing and settlement speeds. And with no hard limit to the number of Dogecoins that can be mined, this cryptocurrency is extremely sensitive to headline risk.
This makes Dogecoin a highly speculative investment for retail investors -- one that should mostly be avoided. Instead, NVIDIA (NASDAQ: NVDA), Skillz (NYSE: SKLZ), and Jushi Holdings (OTC: JUSHF) can prove much better portfolio holdings in the long run.
Source Fool.com
