Category: Forex News

Bloomberg Expert Decodes Meme Coin

By Published On: March 11, 20241.6 min readViews: 2140 Comments on Bloomberg Expert Decodes Meme Coin


In a recent exchange on X, Joe Weisenthal, the co-anchor of What’d You Miss? on Bloomberg Television, delved into the explosive growth and speculative nature of meme coins, comparing their rapid ascent to the traditional equities market. 

Weisenthal stressed the unique appeal of meme coins, noting their capacity for delivering outsized returns that traditional investments rarely match.

“Memecoins fill the demand for extremely asymmetric bets in a way that almost no equity could satisfy,” he noted.

His comments were in response to discussions on the regulatory challenges and potential of meme coins in today’s financial landscape.

The attraction and risks of meme coins

Doug Colkitt, founder of Ambient Finance, recently sparked a conversation by critiquing the nihilistic tendencies within the meme coin craze and pointing out regulatory obstacles in accruing value on-chain.

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He envisioned a scenario where small businesses could easily access global capital markets through token issuance, contrasting this with the current pursuit of low market cap meme coins. 

Weisenthal responded by questioning the likelihood of creating productive businesses versus quick flip scams in such a deregulated environment. 

He argued that many meme coins are indeed considered scams due to their lack of underlying productive enterprise. However, the phenomenon represents a deeper desire among people to engage with investments in a more traditional, hands-on manner.

Rethinking investment and regulation

Weisenthal and Colkitt’s debate extends beyond the meme coin frenzy to address broader issues in financial regulation and investment strategies. 

Despite acknowledging the high failure rate among small businesses and the prevalence of scams, Colkitt also argued that a more open market could foster genuine company growth. 

Weisenthal countered, warning against the complete dismantling of equity capital market regulations. He implied that despite the speculative nature of meme coins, they are part of a larger discourse on how modern financial practices may be disconnecting investors from tangible enterprise and growth opportunities.

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