In a recent post, the creator of Dogecoin, known by the pseudonym Shibetoshi Nakamoto, entertained the idea of Argentina adopting DOGE as its reserve currency.
The eccentric remark came amid discussions triggered by the election of Argentina’s new president, Javier Milei, who has pledged radical economic changes, including the closure of the Central Bank and the adoption of the U.S. dollar as the sole currency.
The developer, while emphasizing that he was not advocating for such a move, found humor in the prospect, stating, “It would be kinda funny if Argentina took up Dogecoin as its reserve currency.”
probably, if everything was done on chain
— Shibetoshi Nakamoto (@BillyM2k) November 26, 2023
He even went on to compare the stability of Dogecoin to the Argentine peso, noting that the meme-inspired cryptocurrency had been more stable in recent years, albeit with a tongue-in-cheek acknowledgment of its notorious volatility in previous years.
The context of Nakamoto’s musings aligns with the economic turmoil in Argentina and President Milei’s unconventional proposals. The Argentine peso seems to be on the fringe of Milei’s plans, prompting the Dogecoin creator to playfully join the speculative conversation.
Apart from this, Nakamoto dismissed attempts to predict the future of Dogecoin, especially in reference to its impressive heights in 2021 following coverage on Saturday Night Live (SNL). “I think anyone who predicts anything about cryptocurrency is a fool,” asserted the developer, highlighting the unpredictable nature of the digital asset market.
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