Ripple boss says Dogecoin Is Not Good For The Crypto space

The CEO of Ripple firm, Brad Garlinghouse, shared his stance on the meme coins and claimed that such coins are not a good picture as a hedge against inflation. 

In the present time, there are different use cases of crypto and blockchain technology. There are different types of companies, firms, and individuals, which are using crypto in their ways. Besides all these, there are a few big wealthy players, which want to use crypto against the inflation in the global economy. But according to Ripple CEO, Doge is not better for such a use case.

On 24 November, Brad Garlinghouse- CEO of Ripple, appeared in an interview with CNBC-moderated panel discussion at the Fintech Abu Dhabi event. 

Speaking at the CNBC event, Brad figured out that increasing the inflation rate in the global economy is a good thing for the crypto space tailwinds. 

According to Brad, he doesn’t believe that Dogecoin (meme coins) can do much better in this situation of inflation framework. He said :

“I’m not convinced, somewhat controversially I guess, that Dogecoin is good for the crypto market,” 

Dogecoin was launched in 2013 as a joke within hours, according to the creators of Dogecoin. But currently, this coin is grabbing huge attention in the crypto market and has ranked in the top 10 crypto assets. Besides this, Shiba inu grabbed a huge surge and momentum. But in actuality, these are those coins, which have no use cases and any other concept during the creation. However, the project team is trying to add new use cases with it.

Brad explained that “Dogecoin has some inflationary dynamics itself that would make me reluctant to hold it.” According to Brad, it is a very weak quote for Dogecoin to hold in the long term against inflation. Because Dogecoin has an unlimited supply on the other hand Bitcoin is limited in supply. 

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