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North Island President’s Outlook for 2022
Youri Molchan
North Island Chairman and prominent tech investor Glenn Hutchins believes 2022 will be tough for Dogecoin stocks and even
In a chat with CNBC host Becky Quick, savvy tech investor, co-founder of Silver Lake Partners and president of North Island, Glenn Hutchins, was asked to give his outlook for 2022.
He shared “just a few thoughts” on the future of the market next year and urged investors to get rid of Dogecoin stocks and even before 2022 arrives.
“Easy Money is Off”
Hutchins said that as we enter the period of rising interest rates globally, easy money will be turned off. The Bank of England seems to be the first lark here since it announced an interest rate hike of 0.25%.
He said investors should start shedding stocks of memes and Dogecoin. He also believes that as interest rates start to rise, food and fuel prices will rise and emerging markets will suffer first – countries like Brazil, Russia, Egypt, Mexico, etc
“We’re entering a situation where interest rates are rising, easy money is off,” Glenn Hutchins says of his 2022 forecast. #dogecoin.” pic.twitter.com/cKF3Obbg32
— Squawk Box (@SquawkCNBC) December 17, 2021
Doge and SHIB are growing in terms of trade and adoption
Meanwhile, major cryptocurrencies even DOGE and Shiba Inu are growing in terms of acceptance by major retail companies and are listed on major exchanges around the world.
In particular, DOGE and other cryptos have been accepted by gaming giant Nexon. SHIB is now accepted by a group of major retailers, including Flexa (covering nearly 40,000 retail stores in the US), Gamestop, Nordstorm, and Bed Bath & Beyond.
Also, perhaps the biggest news was recently announced by Elon Musk: Tesla will launch products that will be sold for DOGE “to see how it goes”.
Dogecoin and SHIB were added by leading Indian exchange Uncoin, and SHIB was launched on a major exchange in Taiwan, BitoEX. Spain’s largest exchange Bit2Me has also listed the “Dogecoin killer”.
