Brad Garlinghouse said he does not plan to buy Dogecoin due to the high inflation dynamics of the token
Ripple CEO Brad Garlinghouse criticized the "meme" cryptocurrency Dogecoin in a panel discussion at the Fintech forum in Abu Dhabi, CNBC reported. Garlinghouse explained that he does not plan to buy Dogecoin due to the high inflation dynamics of the token.
According to the head of Ripple, the emission of altcoins is unlimited, so the coin is not suitable for the cryptocurrency market, since many investors use digital assets just to protect against inflation. Garlinghouse recalled that Dogecoin was originally conceived as a joke, but the coin was "given impetus" by various media personalities, such as Elon Musk.
Later on Twitter, the CEO of Ripple wrote that he positively assesses the prospects for the cryptocurrency market in 2022, despite the negative attitude towards Dogecoin.
On November 22, former CIA officer Edward Snowden expressed concern about the fact that many perceive "meme" digital assets as an investment opportunity, which could lead to serious financial losses. Snowden clarified that he respects people who treat Dogecoin, Shiba Inu, and other similar tokens as a joke.