By Tyler S - Wallet Specialist - 26-08-2021
The CEO of Three Arrows Capital, Su Zhu, recently discussed the topic of buying Dogecoin (DOGE) on a podcast episode. In an episode dubbed "The Game Theory of Crypto Podcast," the CEO stated that he is interested in the meme cryptocurrency as it is an easy crypto concept to learn. In the podcast, Zhu can be heard making comparisons between buying and selling DOGE versus other altcoins available. When comparing Dogecoin against the market, Zhu made a statement that the meme coin is a real head-turner for "blue-collar" traders.
Further along in the podcast episode, Zhu begins talking about companies that exchange crypto, one especially well-known app he mentions is Robinhood. According to Zhu, Robinhood's most recent report for the second quarter revealed that DOGE investments had made 62% of the company's revenue.
The CEO of the hedge fund manager further stated that to claim DOGE as a ‘working man's currency’, people need to first consider Robinhood as a "blue-collar style" of investing in cryptocurrency. Zhu theorised that because DOGE has taken most of the exchanges’ crypto revenue, this would make Robinhood a DOGE proxy.
When comparing exchange platforms, Zhu began discussing DOGE on Coinbase. Zhu mentioned that a few days prior to the podcast interview, Ether's (ETH) volume was surprisingly lower than DOGE. Another point that Zhu made was that even Elon Musk, CEO of Tesla, only proved Zhu's previous statement by stating that Dogecoin is the "people's crypto."