Microsoft. Such fast growth is drawing in more
investors, as well as gaining the attention of
regulators around the world.
Zhao spoke after his company issued a call for
more regulation of crypto markets around the
worl d. Besides bubbles and meme coins, he
talked about which cryptocurrencies he owns
and his promise to donate most of his wealth.
This conversation has been edited for clarity
and length.
Q: What’s your takeaway when cryptos that
started as a joke are soaring in value?
Zhao: To be honest, I don’t get Dogecoin. But
this shows the power of decentralization. What
I think may or may not matter. If a large enough
number of people in the community values it
because it’s cute, because they like the meme,
then it has value.
And Dogecoin has lasted so many years. It’s
gone up and down, up and down, but it’s lasted.
And now we have Shiba, which is also a meme
coin. We have a lot more meme coins. But guess
what? For something to be valuable, you only
need one other person to want to buy it.
For something to have liquidity, you need a
large number of people to want to buy it or sell
it. Once you have liquidity, a thing has value,
according to the neutral market. So it’s not up to
me to judge it.
As a platform, we want to provide a marketplace
for all the relatively valuable cryptocurrencies in
the world.
Q: When people buy things only because the next
person will buy it, isn’t that a sign of a bubble?