In brief

  • Jim Cramer is a prominent TV host and former hedge fund manager.
  • He said DOGE would be regulated as a security.
  • He implied that regulation is necessary to find out how many DOGE are being created.

When Web3 denizens complain that traditional media doesn’t understand cryptocurrency, they might be pointing, as Exhibit A, to Jim Cramer.

Cramer, the one-time hedge fund manager and long-time host of CNBC’s “Mad Money,” today warned about the dangers of Dogecoin, over nine months after its price and popularity peaked. He tweeted: “Please be careful with Dogecoin…It is a security. It will be regulated. We will find out how many there are and how many are being created each day to make money for the exchanges.”

You can imagine what came next. In summary: People within the industry disagreed with all of his points.

In the tweet, the TV personality is perhaps alluding to the Dogecoin network’s penchant for printing a lot of new DOGE each day—14.4 million new tokens, to be precise. This makes it hard for demand to keep up with supply. By contrast, the Bitcoin network prints about 900 new BTC per day.

One problem with the tweet, however, is: We already knew that. The above figure, in fact, comes courtesy of website The Street, which Cramer co-founded. And how did The Street know? We’ll let Dogecoin co-creator Billy Markus explain: “Bro, please…

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