Mark Yusko, Bitcoin enthusiast, expresses confusion over Dogecoin’s existence, saying, “It’s mind-boggling.”
Mark Yusko, the CIO of Morgan Creek Capital Management, has reiterated his stance that Dogecoin has no real use or utility and therefore should have no value. Speaking in an interview with crypto analyst Scott Melker, Yusko criticised meme cryptocurrencies like Dogecoin, stating that he does not understand why they exist. He added that he has no faith in Dogecoin and had previously said the bear market will be over when DOGE is at zero. Yusko believes that crypto spring is expected to be mostly range-bound price action, but summer could provide a more favourable environment for a bull market. He also believes that Bitcoin’s price could see a surge in anticipation of the halving event in April 2024, which cuts the rewards given to BTC miners in half every four years. At the time of writing, DOGE was trading at $0.074 down 1.70% in the last 24 hours, according to Benzinga Pro.