Max Keiser’s Slams Crypto: Says XRP and ETH Are Securities Set to Tank Against Bitcoin!
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Max Keiser, known for his outspoken views, recently targeted XRP and ETH, labeling them as “unquestionably securities.” This criticism stems from his Bitcoin maximalist stance, advocating for Bitcoin’s superiority over other cryptocurrencies. The analyst’s remarks underscore the ongoing debate over the regulatory status and decentralization of various digital assets.
A War of Supply?
Keiser’s argument revolves around the fundamental characteristic of Bitcoin: its fixed supply of 21 million coins, established by its enigmatic creator, Satoshi Nakamoto. The lack of supply in Bitcoin makes it more valuable, with each halving event occurring every four years, further reducing the supply, and creating a supply shock. As a result, Bitcoin becomes scarcer over time, creating a perception of lasting value.
Drawing parallels towards Ethereum and XRP the analyst said they have significantly larger supplies, with over 120 million ETH and 100 billion XRP tokens in circulation. Keiser argues that this large stock dilutes their value proposition when compared to Bitcoin. Moreover, Keiser frequently criticizes XRP and ETH in his tweets, labeling them as unregistered securities. He also believes that the SEC’s actions against them are justified. And in the long run, they all will go to Zero.
Bitcoin’s Dominance in the Market
Moving ahead he said that, Bitcoin’s superiority is highlighted by its widespread acceptance as a safe haven and protection against inflation by big players like institutional investors and corporations. The recent surge of investment in Bitcoin through spot Bitcoin ETFs adds weight to this belief, with substantial amounts of BTC being acquired each day.
The Best Pick This Season
Having said that, Keiser’s comments add weight to the ongoing debate in the cryptocurrency world about whether Bitcoin or other digital currencies like Ethereum and XRP are better investments. He thinks Bitcoin is superior because it has a fixed supply and is seen as a store of value. However, others argue that Ethereum and XRP have their advantages, such as being used for smart contracts or fast transactions.
The debate will go on but analysts’ views are enlightening since he is been vocal about Bitcoin’s surge for a long time. With the unexpected portfolio shifts will Bitcoin sustain the market heat in this altcoin season? Only will tell.
Filed under: Bitcoin - @ March 23, 2024 10:02 am