Dogecoin (CRYPTO: DOGE) co-creator Billy Markus shared his views on the outlook for the meme-based cryptocurrency over the next few years.
What Happened: Markus said that “sustained growth in cryptocurrency” isn’t a likely scenario unless one zoom’s out to look at the bigger picture.
“The primary use case of all cryptocurrency, in terms of how people use it, is to gamble with it,” Marksu said in an interview with Boardroom. “It’s a free market, price discovery is still happening, but it has more or less been a history of repeated bubbles and pops in the 12 years it has existed.”
When asked if he agreed with Mark Cuban’s statements on how DOGE could be “the strongest crypto,” Markus explained that the key driver of Dogecoin’s utility, like any other crypto in the market, is whatever someone wants to use it for.
“The value is whatever someone decides to buy it for, the utility is whatever someone wants to use it for. So if there’s an excited community of people wanting to buy it and use it, it can maintain relevance,” Markus said.
Markus also shared that he believes Tesla Inc (NASDAQ:TSLA) CEO Elon Musk has been a positive influence for Dogecoin, seeing as he put the dog-themed cryptocurrency on the radar for an immense amount of people.
Ultimately, the Dogecoin co-creator thinks that in five years’ time, DOGE will “still be a dog on a coin” and its fiat value will be “whatever someone is willing to pay for it at any point in time.”
DOGE Price Action: Dogecoin was trading around $0.1646 at press time, gaining 1.8% in the last 24 hours.
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