Dogecoin outperforms and has more utility than Banco do Brasil, highlights Bitcoiner economist.

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In a statement that sparked debate in the market, economist Henrique Giron, a graduate of Mackenzie, stated that Dogecoin, a cryptocurrency initially created as a meme, has “more value and utility” than Banco do Brasil, one of the largest public banks in the country.

The controversial comparison arose during the Plan B conference, which is taking place in El Salvador and seeks to demonstrate how the adoption of cryptocurrencies is changing the local economy.

Giron, who works in the crypto and blockchain market, bases his analysis on recent market value (market cap) data. According to him, Dogecoin, which reached a market capitalization of US$$ 88 billion in 2021 (compared to the current US$$ 48 billion), has recently surpassed Banco do Brasil, whose market capitalization fluctuates around US$$ 24 billion.

“Dogecoin, despite being a digital currency without physical backing or strict regulation, represents a technological disruption. It is decentralized, globally accessible in seconds, and its community drives its adoption organically. Traditional banks, such as BB, are tied to bureaucracy, high fees, and slow to innovate,” he argued.

Dogecoin is better than Banco do Brasil.

The economist also highlighted the technological efficiency of cryptocurrencies: “While an international transaction through Banco do Brasil can take days and cost absurd fees, Dogecoin does the same in minutes, with negligible costs. This is real value for the user.”

Source: BITNOTÍCIAS