Max Keiser: Why Ethereum Could Crash to Zero Against Bitcoin
Max Keiser criticizes Ethereum, predicting it will crash to zero against Bitcoin. He argues ETH lacks Bitcoin's proof-of-work decentralization and faces regulatory challenges.
Bitcoin maximalist Max Keiser has once again harshly criticized Ethereum, the second-largest cryptocurrency by market capitalization, offering several reasons why he believes ETH is a poor investment compared to Bitcoin.
Keiser argues that Ethereum will ultimately crash to zero against BTC.
Max Keiser's Criticism of Ethereum
This time, the outspoken Bitcoiner strengthened his case for BTC over ETH by highlighting key points, asserting that ETH is "heading to zero against Bitcoin."
Keiser claimed that Ethereum is not a commodity like Bitcoin and lacks the proof-of-work algorithm that ensures Bitcoin's decentralization. He also pointed out that in El Salvador, where he currently lives and advises President Nayib Bukele on Bitcoin, Ethereum and other altcoins are classified as unregistered securities.
Bitcoin was classified by the SEC as a commodity due to its decentralized nature, a status that was later extended to Ethereum. However, recent debates have raised doubts about whether ETH will maintain its commodity status.
Recently, the SEC gave preliminary approval for spot Ethereum ETFs, but issuers had to exclude staking options from their filings. This follows the SEC's legal actions against U.S. exchanges Coinbase and Kraken for their staking offerings, which included ETH among other altcoins.
Samson Mow Ridicules VanEck's $22,000 ETH Prediction
@vaneck_us tweeted about increasing their ETH price target to $22,000 by 2030, influenced by the approval of spot Ethereum ETFs, progress in Ethereum's blockchain scaling, and VanEck’s on-chain data analysis. Samson Mow mocked this prediction.
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