Max Keiser, the server of the financial program Keizer Report, which is famous for its accurate Bitcoin predictions, harshly criticized the altcoin market in his statements that he met Bitcoin. Cryptocoin. com, we convey the details…
“Bitcoin has everything to become a currency”
Notorious Bitcoin analyst Max Keiser said the altcoin market, and Ethereum in particular, is “totally a scam” and “it will eventually go to zero”. In his recent statements, Keizer implied that Bitcoin and all altcoins are inherently unsustainable. According to the analyst, what Bitcoin can do is meet all the conditions for an asset to be money.
Increasingly resilient to scarcity, fragility, decentralization and pumping.
On the other hand, the analyst made quite harsh statements about DeFi altcoin projects such as Compound (COMP), Aave (AAVE), Algorand (ALGO), Avalanche (AVAX) and The Graph (GRT):
People wake up every day to the fact that altcoins are just scams. Altcoins are sheer scams. It’s a complete scam. These DeFi projects routinely explode, with people constantly blowing up. These protocols live in a gray area that falls short of all regulation.
Keizer also stated that Bitcoin is the best solution for hard money that mankind has ever encountered:
Bitcoin solves a problem humans have had for hundreds of thousands of years, and it’s the need to trade in space and time for value. And so you have gold, which is great for exchanging values over time, but bad to do so in space. In other words, it is difficult to transport gold, so if you want to transport a billion dollars of gold to the airport, it is not practical. You can carry fiat currencies in space, for example, there are hundreds of dollar bills in suitcases, but they swell over time and disappear. With Bitcoin you can transport it in space and time.
Finally, Keizer compared the current adoption of Bitcoin to the early days of the internet and said that the use of Bitcoin will be “everywhere”. He also added that he recently sold all his gold in favor of Bitcoin:
For years, we’ve had this debate between Bitcoin and gold, and every year, Bitcoin’s status is superior to gold. This story just gets stronger. Therefore, some of the negatives of gold are more pronounced and more disturbing.
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