August 27, 2021 12:39 UTC
August 27, 2021 12:39 UTC
A corporate executive at hedge fund management company 3 Arrows Capital said he is “very bullish” on Dogecoin. In addition to the affordability, accessibility and popularity that are attractive to ordinary investors, he believes that Dogecoin does not have any risk of restrictive issues.
The hedge fund government says he is “very bullish” on Dogecoin
Three Arrow Capital’s corporate executive Su Zhu talked about the cultural cryptocurrency Dogecoin in the Uncommon Core podcast on Wednesday. 3 Arrows Capital may be a hedge fund management company registered with the Monetary Authority of Singapore (MAS). Su co-founded the firm in 2012; he is currently the company’s executive officer and chief investment officer (CIO).
Su explained that for various reasons, as well as its attractiveness for ordinary investors’ affordability, accessibility, and popularity, he is very optimistic about cultural cryptocurrency. He pointed out that anyone will own the entire Dogecoin unit and will only transfer between people.
Asserting that “in several communities in the United States, the name of DOGE is indeed four times that of Ethereum,” Su elaborated:
“I’m very optimistic about Dogecoin… its meme is very simple. Anyone who drinks beer can understand it. The woman who takes a selfie can understand that she or he will only put her money into it and surpass everything. people.”
He claimed: “The viral spread of ordinary coins only happened on DOGE, and the situation on other coins is less.”
Company executives continued to match Dogecoin with XRP and said: “It reminds me of the XRP of the previous cycle, but the result of each method is only higher because one does not contain a large amount of its foundation. Do not rely on Use it for payment narratives in all well-designed banks. It’s clean. It’s simple.”
In addition, Su said: “By the way, this is also a good release, so it is not at risk of being “deemed as safe.” He emphasized:
It does not risk any restrictive issues.
Su then recorded Robinhood’s second quarter earnings as proof of the increase in Dogecoin adoption. The popular stock trading app stated that 62% of its crypto trading revenue in the second quarter came from Dogecoin, and 41% of its total revenue came from crypto trading.
3 Arrows Capital executives are not the only ones who are keen on Dogecoin. The Shark Tank star, and therefore the owner of the NBA team Dallas Mavericks Mark Cuban, has been touting Dogecoin as a payment method. Tesla CEO Elon Musk, commonly known as Dogefather, owns some DOGE and has always shown his support for cultural cryptocurrencies.
At the same time, the quality of Dogecoin has improved a lot recently. A recent report by the blockchain information platform Chainalysis showed that the adoption rate of the token has reached a record level. In addition, both Musk and Cuban believe that Dogecoin is the most powerful payment cryptocurrency.