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HomeCryptocurrencyRipple CEO blasts Dogecoin for 'inflationary dynamics'

Ripple CEO blasts Dogecoin for ‘inflationary dynamics’

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Ripple CEO blasts Dogecoin for ‘inflationary characteristics’

The CEO of Ripple, the company behind the XRP cryptocurrency, is not a fan of the meme-based digital currency Dogecoin (DOGE).

Brad Garlinghouse thinks that DOGE is not good for the cryptocurrency market due to its alleged “inflationary characteristics” and unrestricted supply.Global inflation is

driving Bitcoin’s (BTC)rate higher however has a warning for Dogecoin fans, Garlinghouse argued at a CNBC-moderated panel at the Fintech Abu Dhabi occasion on Tuesday.”I’m in fact not persuaded, somewhat controversially I guess, that Dogecoin benefits the crypto market. Dogecoin has some inflationary characteristics itself that would make me reluctant to hold it,”the Ripple CEO said.Garlinghouse kept in mind that Dogecoin has no tough limit on the overall supply of coins

in circulation, that makes it really different from some significant cryptocurrencies such as Bitcoin, which is capped at 21 million coins.” It was constructed as a joke, then it got some momentum from some prominent people like Elon Musk,”Garlinghouse added. Despite being skeptical about DOGE, Garlinghouse is still positive about the cryptocurrency market in general

. My individual views on dogecoin aside;-RRB- I believe there will be lots of winners in this market. I’m bullish on overall crypto momentum for

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