Billionaires believe that every memecoin is eyewash, but that's also what makes them interesting. BTC is used as a store of value and for hedging against fiat currency, ETH has smart contract capabilities to support dapps, and Dogecoin is for more fun and community. He believes that the choice of which coin to use depends on the direction one wants to go.
According to Jinse Finance, the billionaire stated in a recent interview that he believes 'every memecoin is an eyewash in the making,' but that is also what makes them interesting. In the interview, he discussed various mainstream coins and their perceived benefits, whether it is Bitcoin as a store of value and hedging against fiat currency, or Ethereum with its smart contract capabilities to support decentralized applications (dapps).
"And then there's Dogecoin, it's for more fun and community," he said. "It really depends on where you are. I am an advocate for everyone. I see its fun, I see its practicality, I see its store of value. So it really depends on where you want to go."