Brad Garlinghouse criticises Dogecoin for its inflationary factors

Brad Garlinghouse, CEO of Ripple, in an interview with CNBC, said that he is not a fan of the meme cryptocurrency Dogecoin due to its unlimited issuance.

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\”I’m not actually convinced, but I suppose it’s somewhat controversial that Dogecoin is good for the crypto market. The coin has certain inflationary factors as such, which would make me reluctant to own it,\” he said.

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Garlinghouse noted that Dogecoin differs markedly from some larger cryptocurrencies, such as Bitcoin, in the absence of a hard cap on its total supply. The supply of digital gold is capped at 21 million BTC.

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Garlinghouse noted that Dogecoin was created as a joke, but later \”received a boost from some well-known figures such as Elon Musk\”.

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Despite skepticism toward meme cryptocurrencies, Garlinghouse was optimistic about the market’s prospects overall. He said that global inflation has increased interest in digital assets and has made Bitcoin a hedge against devaluation. The Ripple CEO stressed that this is not the sole driver for digital gold.

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\”I think, looking ahead, these are real technologies that are fundamentally reshaping how our financial infrastructure works. I am very optimistic about what the long-term horizon looks like,\” he concluded.

\n\n\n\nAs previously reported, former NSA and CIA employee Edward Snowden stated a negative stance toward Dogecoin.