Jim Cramer from Mad Money warns of Dogecoin - says Doge is a securities, SEC will regulate - altcoins
Jim Cramer from Mad Money warns of Dogecoin - says Doge is a securities, SEC will regulate - altcoins
The moderator of Mad Money, Jim Cramer, warned of Dogecoin (Doge). He said that the meme cryptocurrency is security and is regulated. He also questioned the supply of Dogecoin.
Jim Cramers Dogecoin warning
Jim Cramer, the moderator of Mad Money on CNBC, warned to invest in Dogecoin (Doge) on Thursday. Cramer is a former hedge-fund manager who has co-founded Thestreet.com, a website for financial news and literacy.
"Please be careful with Dogecoin," he tweeted and added that the meme cryptocurrency "is a securities" and "regulated". He also wrote: "We will find out how many there are and how many are created every day to make money for the stock exchanges."
Cramer's comment on the popular Meme Coindie on Thursday was also broadcast on CNBC, has attracted a lot of attention on Twitter.
Many people contradict Cramer. Some told Mad Money's host that Dogecoin was not a securities and asked how he came to the conclusion that this was the case. Some people criticized Cramer about his lack of knowledge about blockchains and the delivery of Doge.
Dogecoin Mitschöpfer Billy Markus replied Cramer:
Please learn how blockchain works. It is already known how many there are and how many are created every day. It is located in the public code in the public blockchain and is easy to see for everyone.
"In terms of 'security', it is a proof-of-work cryptocurrency so that you have to make an effort to access the coins from the block. It does not qualify under the Howey test. It works just like Bitcoin. In fact, 99.5 % is the same code as Bitcoin. Please continue," emphasized Markus. He continued to tweet that Cramer's warning was "the largest bull signal ever for Dogecoin".
SEC chairman Gary Gensler is currently focusing on regulation of the exchange of cryptocurrencies . He believes that many of the stock exchanges are securities and must be registered. However, the SEC boss From the discussion about a certain crypto, including ether. The SEC is also currently in an ongoing procedure Lawn with Ripple Labs and its managers about the status of xrp .
Dogecoin is the eleventh largest cryptocurrency after market capitalization. At the time of the writing of this article, the price of Doge is 16.60 cents based on data from Bitcoin.com Markets. The market capitalization is about $ 22 billion.
The meme cryptocurrency has many supporters, including tesla-CEO elon Musk and Shark tank star Mark Cuban. Musk sees Dogecoin as the best cryptocurrency for Transactions .
Recently Tesla began to accept Dogecoin for some goods. Musk, who is known as a Dogefather in the crypto community, also personally has the meme cryptocurrency.
What do you think of Jim Cramer's Dogecoin warning? Let us know in the comment area below.
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