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Dispose of Dogecoin and Meme Stocks: North Island Chairman's Outlook for 2022

Fri, 12/17/2021 - 15:09
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Yuri Molchan
Chairman of North Island and prominent tech investor Glenn Hutchins believes that 2022 is going to be hard for Dogecoin and meme stocks
Dispose of Dogecoin and Meme Stocks: North Island Chairman's Outlook for 2022
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While talking to CNBC host Becky Quick, a savvy tech investor, cofounder at Silver Lake Partners and chairman at North Island, Glenn Hutchins, was asked to give his outlook for 2022.

He shared "just a few thoughts" on the future of the market next year and urged investors to dispose of Dogecoin and meme stocks before 2022 arrives.

"Easy money is turned off"

Hutchins stated that as we are moving into the period in which interest rates are increasing globally, easy money will be turned off. The Bank of England seems to be the first lark here as it has announced an interest rate hike of 0.25%.

He said that investors should start getting rid of meme stocks and Dogecoin. He also reckons that as interest rates start increasing, prices for food and fuel will surge and emerging markets will suffer first—countries like Brazil, Russia, Egypt, Mexico, etc.

Elon Musk: DOGE to Be Accepted by Tesla for Merch "to See How It Goes"

Doge and SHIB expand in terms of trading and adoption

Meanwhile, leading meme cryptocurrencies DOGE and Shiba Inu are expanding in terms of being accepted by major retail companies and are getting listed on major exchanges around the world.

In particular, DOGE and other cryptos have become accepted by gaming giant Nexon. SHIB is now accepted by a bunch of major retailers, including Flexa (which covers almost 40,000 retail stores in the U.S.), Gamestop, Nordstorm and Bed Bath & Beyond.

Besides, perhaps the biggest news recently was announced by Elon Musk: Tesla will launch some merch that will be sold for DOGE "to see how it goes."

Both Dogecoin and SHIB have been added by leading Indian exchange Uncoin, and SHIB has launched on a major exchange in Taiwan, BitoEX. The largest Spanish exchange Bit2Me has also listed the "Dogecoin killer."

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at