Coinbase CEO Brian Armstrong shares his thoughts on memecoins on his X post.
Armstrong called Bitcoin a memecoin and one can even say the US dollar is also a memecoin.
Memecoins emerged to be a separate class of their own in the past few years. The incredible price surges in short spans combined with the popularity over the internet, they create buzz in the crypto market. However, most of them are short lived with no real-time use case or string fundamentals.
Coinbase CEO Brian Armstrong took it to his X account and shared his thoughts on memecoins. Armstrong clarified he is not a memecoin trader and acknowledged the fact that they gathered huge popularity nowadays. Former Binance CEO CZ also mentioned his disinterest in memecoin investment earlier. Armstrong further stated,
“Bitcoin is somewhat of a memecoin (one could argue so is the US Dollar, once it was disconnected from gold).”
Even though he might have not literally meant that Bitcoin is a memecoi
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