Su Zhu, the CEO of fund manager <a href="https://www.cryptoknowmics.com/news/three-arrows-capital-invests-1-3b-funds-in-bitcoin/">Three Arrows Capital</a>, indicated in a recent podcast appearance that he shares Elon Musk’s view of Dogecoin being “people’s crypto.” Zhu compared DOGE to stock and crypto trading platform Robinhood and asserted that its popularity among “blue-collar” investors is unmatched by any other virtual currency.
<h2>Three Arrow Capital CEO Su Zhu Explains His Bullish Stance on Dogecoin</h2>
In a recent <a href="https://www.youtube.com/watch?v=piohteKgMXc&amp;t=3s" target="_blank" rel="nofollow noopener">episode</a> of “The Game Theory of Crypto” podcast, Zhu stated that he’s a Dogecoin supporter because the meme currency had attracted blue-collar traders unlike any other crypto out there. 

To corroborate his stance, he pointed to Robinhood’s Q2 revenue report, which attributed 62% of the company’s crypto earnings to the meme currency.

“The best way to understand DOGE, I think, is that if you look at Robinhood, which is sort of the most blue-collar style of crypto investing, DOGE is 60% of their crypto revenue. And crypto is 40% of Robinhood’s revenue, so Robinhood is basically a DOGE proxy.”

Zhu also brought up some recent stats from Coinbase which showed that DOGE’s trading volumes were higher than Ether. “Interestingly across Coinbase [...] a few days ago, DOGE volume was higher than Ether [...] You know, people want to trade DOGE.” he noted.

The Three Arrows Capital CEO highlighted that Dogecoin outperforms Ethereum<a href="https://www.cryptoknowmics.com/news/dogecoin-rising-faster-than-btc-and-eth-sees-41-last-week/"> in terms</a> of brand recognition and is accessible to most crypto investors. Zhu underscored that the meme coin enabled investors to overcome two key barriers of the crypto market: price and education. He went on to say that anyone could own “whole amounts” of the currency and even a “man who drinks beer can understand it.”
<h2>Does Crypto Need to be Serious?</h2>
In stark contrast to crypto advocates who distance themselves from frivolous projects, Zhu believes that cryptocurrencies don’t need to be serious to be successful. He said that Dogecoin shares some similarities with Ripple’s controversial crypto XRP in that sense:

“It kind of reminds me of XRP in the previous cycle, which is better in every way, because one, there is no Foundation that has a ton of it. There's no reliance on an elaborate ‘banks using it for payments narrative.’”

Zhu is also confident that there’s no risk of Dogecoin becoming a security since it was “fair launched.” Notably, SEC chair Gary Gensler had recently proposed that all initial coin offerings should be treated as securities. 

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Three Arrows Capital CEO Hails Dogecoin As People’s Crypto

Su Zhu, the CEO of Three Arrows Capital, indicated in a recent podcast appearance that he shares Elon Musk’s view of Dogecoin being “people’s crypto.”

Divya is a postgraduate from Jawaharlal Nehru University specializing in International Relations and a professional writer with more than 5 years of experience writing for the web. She is an avid reader interested in the global financial system and the effects of decentralization. At Cryptoknowmics, she hopes to deliver clear and understandable content to inform readers about the latest events in the crypto sector.

Three Arrows Capital CEO Hails Dogecoin As People’s Crypto

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