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Dogecoin has 'inflationary dynamics' and isn't good for the cryptocurrency market, says Ripple CEO
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Dogecoin, which has no limit on its supply, is not good for the broader cryptocurrency market, said the chief of payment networks company Ripple Labs, according to CNBC.
«I'm actually not convinced, somewhat controversially I guess, that dogecoin is good for the crypto market,» said Ripple CEO Brad Garlinghouse at a Tuesday panel discussion moderated by CNBC at the Fintech Abu Dhabi conference.
«Dogecoin has some inflationary dynamics itself that would make me reluctant to hold it,» he said.
He added that a surge in inflation has served as a tailwind for the wider cryptocurrency market, whose valuation in November briefly topped $3 trillion for the first time. Two measures of annual
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