What’s the Deal With Dogecoin?
Welcome to Ask Clark, a column designed to answer your financial questions, by money expert Clark Howard.
How Do You Feel About Dogecoin?
James from Alabama asks: “What are your thoughts on Dogecoin? I know your stance on Bitcoin, and I feel like I’ve missed that boat. I’m curious if your thoughts are similar on the two.”
Clark’s Take on Dogecoin
Clark says: Dogecoin — or any other cryptocurrency — just isn’t consistent or stable enough right now to invest your hard-earned money into, but the day may soon come.
“With any of the cryptos today, they’re all about speculation and values moving wildly in short periods of time. So they’re not truly real money when you can’t count on the stability of the value,” Clark says.
“There’s a lot of facets of electronic money that will be part of the future. The thing right now is that we are in the pioneering stage — the Wild West if you will — and a crypto will really be of value when it maintains consistency.”
Clark adds: “There will be platforms over time that use a lot of the principles of cryptocurrency that are able to maintain a market value. … That’s when crypto will become very valuable to industry, doing international transactions, people traveling and going to different places in the world, when crypto matures and it has a value you can count on vs. these wild swings up and down.”
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