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Brad Garlinghouse doesn’t think DOGE is good for crypto markets

Brad Garlinghouse doesn’t think DOGE is good for crypto markets. The CEO of Ripple Labs outlines his reasons for not holding the meme asset Dogecoin (DOGE).

In one interview Brad Garlinghouse, a new signing at CNBC, said he doesn’t think DOGE is good for the crypto market, pointing to the coin’s inflationary dynamics as a key issue.

“I’m actually not convinced, somewhat controversial, that Dogecoin is good for the crypto market. It was built as a joke, then got some pep from some celebrities like Elon Musk.

Dogecoin itself has some inflationary dynamics that lead me not to hold onto it. “

With inflation at multi-year highs in the US, Garlinghouse believes real estate with inflation mechanisms built in will do well as consumers look for assets that, due to their scarcity, have the potential to increase in value.

“Inflation is at a level we haven’t seen in decades. When people worry about holding a fiat that could be inflationary and depreciating in value, they ask themselves, “How can I hold other assets that are not experiencing the same inflationary dynamics?”

Although Dogecoin does not specify a maximum supply in circulation, it is capped at 5 billion new DOGE per year.

DOGE is trading at $ 0.21 at press time, almost 30% less than a 30-day high of $ 0.33.

Source: TradingView

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

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