As an experienced financial analyst, I have closely followed the cryptocurrency market for years. Max Keiser’s repeated criticism of Ethereum and his belief that ETH is a loser compared to Bitcoin is not a new stance. Keiser, who identifies as a Bitcoin maximalist, has been vocal about his views on other altcoins, including Ethereum.
Max Keiser, a well-known Bitcoin advocate, has once more expressed strong criticisms towards Ethereum, the second largest cryptocurrency by market capitalization. According to Keiser, Ethereum falls short in comparison to Bitcoin for several reasons.
He stated that ultimately Ethereum will crash to zero against BTC.
Max Keiser’s arguments against Ethereum
Max Keiser, a previous financial commentator and Wall Street trader, has taken to Twitter once more to criticize Ethereum. A known Bitcoin advocate, Keiser has previously expressed similar views towards Ethereum as well as other cryptocurrencies like XRP, ADA, SOL, and others. In his perspective, these digital assets are centralized and function as unregistered securities.
On this occasion, the dedicated Bitcoin supporter reinforced his pro-Bitcoin stance versus Ethereum, presenting compelling arguments as to why he thinks Ethereum’s value “may plummet relative to Bitcoin.”
Keiser emphasized that Ethereum differs from commodities such as Bitcoin, as it doesn’t operate using the proof-of-work algorithm like Bitcoin and instead maintains its decentralized features through alternative methods. In El Salvador, where Keiser resides and serves as an advisor to President Nayib Bukele, Ethereum, along with all other altcoins, is considered an unregistered security.
The Securities and Exchange Commission (SEC) has categorized Bitcoin as a commodity due to its decentralized features. Similarly, Ethereum was labeled as a commodity later. However, there’s growing uncertainty about Ethereum retaining this favorable commodity classification.
As an analyst, I’ve been following the latest developments in the world of Ethereum Exchange-Traded Funds (ETFs). Recently, the Securities and Exchange Commission (SEC) gave its preliminary approval for these funds, but there was a catch: issuers had to exclude staking as an option from their applications. The reason behind this decision? The SEC has recently taken legal action against U.S. exchanges Coinbase and Kraken over their staking offerings, with Ethereum (ETH) being one of the implicated altcoins.
Samson Mow ridicules VanEck’s $22,000 ETH prediction
Bitcoiner and well-known figure in the cryptocurrency world, Samson Mow, took to Twitter to express his perspective on VanEck’s latest prediction concerning Ethereum.
VanEck_us announced an elevated Ethereum price prediction of $22,000 by 2030 on Twitter. This adjustment was driven by several influential factors: the green light given to spot Ethereum ETFs, the significant strides made by Ethereum developers in enhancing the blockchain’s scalability, and VanEck’s interpretation of relevant on-chain information.
Samson Mow, finding that highly unlikely, reacted just with one word: “LMAO.”
LMAO
— Samson Mow (@Excellion) June 5, 2024
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2024-06-06 16:50