An Expert in Cryptocurrency Explains Why Dogecoin Would Be Better Off Without A DOGE ETF

In a recent analysis, a pseudonymous crypto expert who goes by @itsALLrisky on X (formerly Twitter) presented a compelling case for Dogecoin’s sovereignty, asserting that the popular meme coin may thrive without the need for a Dogecoin ETF. 

  1. Dogecoin’s Unique Position:
  • A pseudonymous crypto expert (@itsALLrisky) outlines reasons why Dogecoin may thrive without a Dogecoin ETF.
  • Emphasizes Dogecoin’s status as a meme coin, making it less likely to be acknowledged by mainstream financial institutions.
  1. Value as Digital Currency:
  • Suggests that Dogecoin can succeed by maintaining its role as a digital currency rather than transforming into an institutional investment.
  • Potential for widespread adoption in everyday transactions and purchases on a global scale.
  1. Grassroots Adoption and Unique Features:
  • Highlights Dogecoin’s issuance schedule, low transactional fees, and broad humorous appeal as factors that make it suitable for use as a form of cash.
  • Emphasizes Doge’s agility and movement as crucial for its success.
  1. Spot Bitcoin ETF Concerns:
  • Discusses concerns about Spot Bitcoin ETFs potentially diminishing Bitcoin’s value as a transactional currency.
  • Cites warnings from crypto OG Arthur Hayes about the potential negative impact of successful ETFs on Bitcoin’s utility.
  1. Drawbacks of Bitcoin ETFs:
  • Despite potential advantages of a Bitcoin ETF, the expert points out significant drawbacks that could harm Bitcoin’s standing as a form of digital money traded for goods and services.
  • The launch of a Spot Bitcoin ETF may even hurt Bitcoin’s position in this regard.
  1. Spot Bitcoin ETF Approval:
  • Mentions that the denial or approval dates of the Spot Bitcoin ETF are fast approaching, scheduled for January 10.
  • Notes the expectations of a potential major rally in the price of Bitcoin if the Spot Bitcoin ETF is approved.
  1. Overall Assessment:
  • Concludes with a balanced view, acknowledging the potential benefits of a Bitcoin ETF but raising concerns about its impact on Bitcoin’s fundamental utility as a digital currency.

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