In a recent article, Shibetoshi Nakamoto, the creator of Dogecoin, playfully explored the notion of Argentina considering DOGE as its reserve currency. This whimsical comment emerged in the context of discussions spurred by the election of Argentina’s new president, Javier Milei, who has proposed significant economic reforms, including shuttering the Central Bank and adopting the U.S. dollar as the exclusive currency. Despite clarifying that he wasn’t endorsing this idea, the developer found amusement in imagining a scenario where Argentina embraced Dogecoin, stating, “It would be rather amusing if Argentina opted for Dogecoin as its reserve currency.”
He further drew a comparison between the stability of Dogecoin and the Argentine peso, pointing out that the meme-inspired cryptocurrency had exhibited greater stability in recent years. This observation, however, came with a humorous nod to its well-documented volatility in previous times.
Nakamoto’s reflections are situated against the backdrop of economic unrest in Argentina and President Milei’s unconventional policy proposals. With the Argentine peso seemingly at the fringes of Milei’s plans, the creator of Dogecoin playfully joined the speculative discourse.
In addition, Nakamoto dismissed any attempts to forecast the future trajectory of Dogecoin, especially in relation to its notable surge in 2021 following coverage on Saturday Night Live (SNL). Emphasizing the unpredictability of the digital asset market, he stated, “I believe anyone attempting to predict cryptocurrency outcomes is simply foolhardy.”