In a panel in the course of the Bitcoin 2021 convention, Republican Congressman, Warren Davidson, in contrast the US greenback to Dogecoin.
“The Fed is mainly ‘Dogecoining’ the US greenback,” mentioned Davidson whereas speaking about how a lot cash printing is happening by the Federal Reserve.
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The Congressman seemingly made this comparability resulting from Dogecoin’s huge and ever-increasing provide. Dogecoin miners are rewarded 10,000 DOGE per block and blocks are created each minute. This signifies that $14.4 million DOGE are created a day, creating an infinite provide. Today, there’s nicely over 129 billion DOGE in circulation.
The panel was comprised of varied monetary business leaders together with Ryan Louvar of Wisdomtree, Matt Hougan of Bitwise, Steve McClurg of Guggenheim Partners, Annmarie Tierney of Liquid Advisors and republican consultant of Ohio, Warren Davidson.
The subject of the panel was to debate the potential for a regulated Bitcoin funding product like an ETF.
Steven McClurg, the earlier managing director at Guggenheim Partners, mentioned that “with all these international locations printing fiat it’s highly effective to have an asset that’s set. While we’re ready for a regulated product you’ll be able to nonetheless purchase Bitcoin as we speak.”
When the panel was requested after they thought a Bitcoin ETF might truly be authorised all of them thought it might come throughout the subsequent 12 months or two. Congressman Davidson mentioned he was constructive that the SEC would start severely contemplating the choice.
“I’m optimistic that we will see some momentum out of the SEC,” mentioned Davidson.