‘Only Bitcoin is Secure’: Max Keiser Calls Out XRP and Cardano

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As a seasoned researcher with a knack for deciphering the intricacies of the crypto world, I find myself grappling with the recent arrest of Pavel Durov and the potential implications it holds for the cryptocurrency market, particularly Bitcoin (BTC).

39-year-old businessman Pavel Durov, who is famous for developing the messaging platform Telegram, was taken into custody on Saturday evening at Le Bourget airport. The accusations against him involve terrorism, narcotics, conspiracy, fraud, and money laundering, with potential prison time of up to 20 years if found guilty.

In simpler terms, the cryptocurrency called TON, which is commonly utilized within Telegram, has shown a response by dropping approximately 15% in price and 61.3% in the amount of value secured on its blockchain.

The reaction, of course, stirred social media, and in particular the crypto space. Among those who weighed in was Max Keiser, known for his maximalist views on Bitcoin (BTC) and as an advisor to Nayib Bukele, president of El Salvador.

In a new post on X, Keiser stressed that BTC remains the only truly secure cryptocurrency. He pointed out that other altcoins, such as XRP and Cardano, are more susceptible to legal problems, while Bitcoin’s creator, Satoshi Nakamoto, remained anonymous to avoid those risks.

1. Why did Satoshi decide to stay hidden from public view?

— Max Keiser (@maxkeiser) August 24, 2024

Bitcoin next?

Yesterday, the shrewd anonymity strategy employed by the Bitcoin co-founder truly demonstrated its value in a fresh light from my perspective as an analyst.

Regardless, it’s worth noting that some individuals argue that if law enforcement manages to resolve the Durov case, Bitcoin might not endure for much longer. Furthermore, they suggest that if Interpol could uncover Satoshi Nakamoto’s identity, he would have been apprehended already. In any event, these opinions indicate that Bitcoin is under scrutiny and may be at risk.

If Telegram were to collapse, there’s a possibility that the value of the first cryptocurrency might decrease as well, despite their independent structures. Cynics speculate that, having tasted victory with a previous ban, governments may be tempted to reenact such restrictions.

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2024-08-25 15:51