Brad Garlinghouse says Dogecoin (DOGE) is bad for the crypto space

Brad Garlinghouse says Dogecoin (DOGE) is bad for the crypto space
фото показано с : invezz.com

2021-11-24 21:33

Ripple CEO Brad Garlinghouse believes the rising inflation will help foster more growth in crypto. He shared his thoughts during the Fintech Abu Dhabi event earlier today, noting that inflation has seen cryptos become more popular. Garlinghouse gave an example of how Bitcoin (BTC/USD) has become an inflation hedge.

In his speech, the Ripple executive said he is bullish on the long-term performance of crypto. However, he was quick to point out that not all digital currencies are worth investing in.

Specifically, he said he is not convinced Dogecoin (DOGE/USD) is good for the crypto market. According to him, the coin’s developers created it as a joke before it got some momentum from high-profile personalities like Elon Musk.

Garlinghouse further noted that DOGE has some inflationary dynamics that would make him reluctant to hold it. For instance, he pointed out that the meme coin does not have a hard limit on its maximum supply. This feature makes it different from other leading cryptos, which have a specified supply limit.

His sentiments come as DOGE stages recovery after trading as low as $0.2155 (£0.16) earlier today. At the time of writing, DOGE is changing hands at $0.2324 (£0.17) after gaining 3.70% over the past 24 hours. The token is the 10th-largest crypto by capitalization, with a market cap of $30,846,176,101.00 (£23,074,636,263.23).

BTC is bullish in the long term

According to Garlinghouse, BTC has a lot of momentum. He pointed out that the cryptocurrency has a market cap of almost $1.1 trillion after getting increased adoption from institutional investors and obtaining mainstream use cases through the COVID-19 pandemic.

Garlinghouse went on to tout BTC, saying,

I think if you step back and take a long view, a five-year view, a 10-year view.  These are real technologies that are fundamentally reworking how our financial infrastructure works and I’m very bullish and very optimistic about what the longer term horizon looks like.

His bullish outlook comes as BTC continues trying to recover from the losses it incurred after falling from its November 10 ATH of $68,789.63 (£51,490.07). At the time of writing, BTC is down 1.58% in the day to change hands at $57,248.14 (£42,851.09).

Ripple’s expansion plans continue despite the ongoing SEC suit

This news comes after Ripple set up a new office in the Dubai International Financial Center. The company seeks to hire 250 staff to run this office. Ripple also plans to join hands with the Pyypl, a Dubai-based startup, to foster cross-border payments by tapping into the remittance corridor between the UAE and Saudi Arabia, which handles approximately $78.00 billion (£58.40 billion) each year.

Commenting on Ripple’s growth, Garlinghouse said 2021 has been a gangbuster year for the firm despite its ongoing case with the SEC. He added that it is a shame that the US, which helped the internet morph into its current state, is falling behind regarding crypto adoption.

The post Brad Garlinghouse says Dogecoin (DOGE) is bad for the crypto space appeared first on Invezz.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Emerald Crypto (EMD) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 4.67 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0095806 (-100%)

crypto brad inflation garlinghouse abu dhabi event

crypto brad → Результатов: 126


Фото:

Ripple CEO Brad Garlinghouse Throws Shade At Dogecoin, Considers It Bad For The Crypto Market

Brad Garlinghouse, the CEO of embattled fintech firm Ripple, recently explained during a CNBC-moderated panel discussion at the Fintech Abu Dhabi event that he is not convinced about Dogecoin. Garlinghouse Not Convinced About Dogecoin Being Good For The Crypto Space Brad Garlinghouse observed that Dogecoin, which started as a parody of Bitcoin back in 2013, […]

2021-11-24 01:57


Фото:

Ethereum Overtook XRP As Second-Largest Crypto With SEC’s Help, Claims Ripple Chief

Ripple Chief Brad Garlinghouse has stated that the United States Securities and Exchange Commission (SEC) assisted Ethereum to surpass XRP as the second-largest asset on the crypto leaderboard. SEC Helped Ethereum Surpass XRP: Garlinghouse Garlinghouse of blockchain firm Ripple and the XRP token has been sharing his insights regarding the current state of regulations in […]

2021-10-23 22:35


Фото:

Bitcoin-Bashing U.S. Rep Sherman Calls For Outright Ban On Cryptocurrencies

United States Congressman Brad Sherman (D-CA) has urged his colleagues to consider completely shutting down cryptocurrencies, arguing that they are “highly volatile”.  Sherman: Crypto Facilitates Tax Evasion A congressional hearing hosted by the House Financial Services Oversight Subcommittee on June 30 performed an overview of the budding crypto ecosystem. Sherman observed that it would make […]

2021-7-1 21:22


Фото:

XRP Lawsuit: On Ex-SEC Chair Jay Clayton’s Sudden U-Turn After Suing Ripple

Ripple’s Boss, Brad Garlinghouse, on Monday, left a few remarks via his Twitter handle on a Wall Street Journal’s post co-written by former US-SEC, chairperson, Jay Clayton. The post which was co-written by Brent MacIntosh, the former Undersecretary of the US Treasuries for International Affairs, sought to preach the all-to-familiar stance of most crypto companies: […]

2021-6-13 23:32


Ripple Requests Assistance From Offshore Bitcoin Exchanges In Its Ongoing Lawsuit

A new twist to the Ripple vs. SEC case has come to the fore. SEC’s New Filing Fatal To Its Claims In response to the Securities and Exchange Commission (SEC)’s lawsuit against blockchain firm Ripple Labs, co-defendants Brad Garlinghouse and Chairman Chris Larsen have requested that the regulatory agency carry out investigations on crypto exchanges […] The post Ripple Requests Assistance From Offshore Bitcoin Exchanges In Its Ongoing Lawsuit first appeared on BitcoinExchangeGuide.

2021-6-3 17:37


Ripple Surges 15% Following News That It Wants To Go Public

Ripple CEO Brad Garlinghouse says that the San Francisco-based payments startup intends to go public once its legal battle with the U.S. Securities and Exchange Commission (SEC) is settled. XRP To Go Public In an interview during the Consensus 2021 event, Garlinghouse commends Coinbase following the crypto exchange’s debut on the Nasdaq in April. Despite the […]

2021-6-1 15:13


Фото:

Ripple Open To Burning Nearly 50 Billion XRP Locked In Escrow – CEO Brad Garlinghouse

Ripple has been in the news for some undesired reasons of late, especially due to the ongoing case pitting the company against the US SEC. However, that hasn’t stopped Ripple’s crypto, XRP, from blossoming, although it hasn’t gained by much compared to other top cryptos like Bitcoin and Ethereum. For years now, members of the […]

2021-4-23 17:31


Interview with OKEx CEO Jay Hao and Unstoppable Domains Founder Brad Kam

Recently, OKEx integrated Unstoppable Domains into its crypto wallet system to improve the overall user experience and enable faster payments from peer to peer. To discuss the groundbreaking partnership and how custom crypto wallet addresses will impact the future of the industry, we’re speaking with OKEx CEO Jay Hao and Unstoppable Domains Founder Brad Kam.

2021-3-30 17:54


Фото:

Ripple CEO Calls On US Regulators To Embrace Digital Currencies As Nation Falls Behind China On Crypto Innovation

Ripple CEO Brad Garlinghouse has once again called on the United States regulators to step up and “lean into digital currencies” as the nation is falling behind China in terms of crypto innovation. Notably, China has continued with the development of its central bank digital currency, to the extent of conducting real-world pilot tests on […]

2020-5-28 10:26