In a recent statement, Shibetoshi Nakamoto, the creator of Dogecoin, humorously entertained the notion of Argentina considering DOGE as its reserve currency. This amusing comment surfaced in the midst of discussions spurred by the election of Argentina’s new president, Javier Milei, who has proposed radical economic reforms, including the closure of the Central Bank and the adoption of the U.S. dollar as the exclusive currency.
While Nakamoto clarified that he was not endorsing such a move, he found amusement in the idea, expressing, “It would be kinda funny if Argentina took up Dogecoin as its reserve currency.”
He further drew attention to the comparative stability of Dogecoin when juxtaposed with the Argentine peso. Nakamoto acknowledged the meme-inspired cryptocurrency’s recent stability, playfully acknowledging its notorious volatility in previous years.
Nakamoto’s playful remarks are situated within the economic turbulence in Argentina and President Milei’s unconventional policy proposals. With the Argentine peso appearing to be on the periphery of Milei’s plans, the Dogecoin creator lightheartedly joined the speculative discourse.
In addition, Nakamoto dismissed attempts to forecast the future trajectory of Dogecoin, particularly in relation to its remarkable surge in 2021 following coverage on Saturday Night Live (SNL). Emphasizing the unpredictable nature of the digital asset market, Nakamoto stated, “I believe anyone who predicts anything about cryptocurrency is a fool.”