Ripple CEO Brad Garlinghouse Says He Won’t Hold Dogecoin – Here’s Why

CEO of Ripple Labs, meme coin dogecoinHe announced that he would not keep the . and summarized the reason behind this decision.

In a new interview with CNBC Brad Garlinghousestated that he does not believe DOGE to be a good player for the cryptocurrency markets, citing DOGE’s inflationary dynamics as the primary problem.

“I’m not really convinced that Dogecoin is good for the crypto market, I guess this is going to be somewhat controversial. It was built as a joke, then it gained some momentum with the help of some high profile people like Elon Musk.

There are some inflationary dynamics in Dogecoin itself that will cause reluctance to hold it.”

Stating that inflation is at its highest level in recent years in the USA, Garlinghouse emphasized that he doubts that assets with built-in inflationary mechanisms will perform well and that consumers seek valuable investments due to their scarcity.

“We’re seeing inflation that we haven’t seen in decades. When people are worried about holding a ‘fiat currency’ that will swell and cause this depreciation, they will not want to hold assets with the same inflationary dynamics.”

Although DOGE does not have a maximum circulating supply, its production is five billion new per year. DOGE is limited to.

DOGE is trading at $0.226, down 24% from its 30-day high of $0.299.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.

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