Jack Palmer, the creator of meme cryptocurrency dogecoin, has briefly emerged from the abyss to reveal his take on what started as a joke virtual currency and morphed into a $26 billion valuation.
Palmer, who first created dogecoin as a joke to poke fun at other cryptocurrencies, has published a series of tweets explaining his despondent view on digitized currencies, and why he has no interest in returning to the market anytime soon. Back in 2018, Palmer published a piece for Vice, where he said dogecoin’s $2 billion valuation represents something “very wrong.”
Now, fast forward to three years later, Palmer shortly reappeared via a series of tweets, where he pretty much reiterated his previous stance on cryptocurrencies, adding that the entire digital currency market is a scam, based on right-wing capitalist values that only benefit the ultra-wealthy. The following tweets capture the summary of his sentiment:
Indeed, some might argue that Palmer is merely bitter about failing to cash in on the surging crypto market after previously revealing he had donated the entirety of his dogecoin holdings to charity in 2015. Similarly, others in the community might point to the powerful impact of digital currencies on emerging markets, such as that in El Salvador, where cryptocurrency holders are able to bypass other failing traditional currencies.
Information for this briefing was found via Twitter. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.