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The official X account of Dogecoin has published a tweet debating an article which states that Bitcoin is not a meme coin.
Alex DovbnyaBitcoin is "somewhat of meme coin", per Coinbase CEO
The article was published by the Bitcoin Policy Institute X handle and was written by an Assistant Professor of Philosophy at Northern Illinois University who is currently working on an academic book on the world’s largest cryptocurrency.
The article has catalogued different types of blockchains and their cryptos – Layer 1, Layer 2 chains, XRP, DeFi, memecoins, etc. Bitcoin stands as a separate kind in this article and the author refers to it as “the oldest, most secure, and most trustworthy, serving as a safe haven asset amongst those who invest in cryptocurrencies.” Besides, the article reminds readers that Bitcoin has “no CEO, no board, and no foundation.”
This tweet came out after Coinbase CEO Brian Armstrong tweeted that Bitcoin “is somewhat of a meme coin.” At the same time, he poured criticism over meme coins, saying that they have gone too far.
In the aforementioned article, the author defined meme coins as memes that are monetized. He claimed that the majority of meme coins have “profit-seeking founders” and they “appear as tokens on Layer 1s like Solana or Layer 2s such as Base (the Coinbase Layer 2 built on Ethereum).”
Yuri MolchanDogecoin team disagrees BTC is not meme coin
The Dogecoin team on the X platform reacted to that X post, challenging that categorical view of Bitcoin. Dogecoin appealed to the fact that Bitcoiners had “laser eyes” on their Twitter avatars in 2020, waiting for BTC to skyrocket to $100,000 after the April halving.
It did surge but in 2021 and went only as high as $69,000 in the late fall that year. The tweet stated: “not a memecoin"… listen.. lean-in guys, you have that whole laser-eyes thing going on.. search your feelings you know it be true.” Dogecoin is the original meme cryptocurrency based on the Bitcoin code and launched in 2013.
Currently, Bitcoin is changing hands at $97,820 after going up by roughly 1% since Thursday and having increased by 4.17% (soaring from the $93,890 price level) since Tuesday this week.
Dan Burgin
Vladislav Sopov