Key Points
- Cryptocurrencies are all the rage, and they've significantly outperformed stocks in the past couple of years.
- Despite its popularity, Dogecoin lacks the competitive edge to have staying power.
- This trio of digital currencies offers intrigue and the possibility of long-term success.
For more than a century, the stock market has been the undisputed leading wealth creator. While it may not surpass the returns of gold, housing, or bonds every year, it's delivered the highest average annual return of these investment vehicles over the very long run.
But over the past decade, cryptocurrencies have stormed the investing scene and become a formidable challenger to stocks. In fact, some of the most widely followed digital currencies have produced five-and-six-digit percentage returns. This includes the "people's currency," Dogecoin (CRYPTO:DOGE), which galloped higher by 27,000% in a six-month stretch between early November 2020 and early May 2021.
Dogecoin lacks a competitive edge
But not everyone is on board with the ascendance of cryptocurrencies. I consider myself a full-blown crypto skeptic. I don't own any digital currencies, have no near-term plans to buy any, and believe the market to be in a massive bubble that's in dire need of a shakeout.
Of all the digital currencies investors could put their money to work in, Dogecoin is the most baffling. That's because it doesn't do anything particularly well. In other words, if you want a network and tethered token...
Read Full Story: https://www.fool.com/investing/2021/09/05/3-far-more-exciting-cryptocurrencies-than-dogecoin/
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