Popular cryptocurrency analyst and founder of Heisenberg Capital, Max Kaiser, called Ethereum and other altcoins “scams.” In his opinion, only bitcoin deserves attention.
During an interview with Kitco News, Max Keiser emphasized that any altcoin does not have truly reliable characteristics, such as the first cryptocurrency has.
According to him, it is worth investing only in bitcoin, as it is truly decentralized, limited in the number of coins, reliable and resistant to “pump and dump” schemes. In addition, Bitcoin does not have the concept of “premine” and all coins are mined by miners.
Kaiser also stated that there are practically no useful applications for altcoins, and their use in decentralized finance projects only confirms that it is all just a scam. DeFi projects operate in a gray area, none of them are regulated.
“Bitcoin solves the most important problem that people have faced for hundreds of thousands of years – the need to exchange and store value,” said the founder of Heisenberg Capital.
The analyst acknowledged that gold is also an excellent store of wealth. But moving it is quite difficult. Fiat currencies, on the other hand, are easy to move, but lose value over time. Bitcoin, as a digital asset, travels thousands of kilometers in seconds, but at the same time retains its value.
Kaiser expects the adoption and use of bitcoin will only increase over time. “Software is changing the world” and, according to the analyst, the financial industry and the concept of money will be completely changed in the coming years. The current financial system is outdated and needs to be replaced, and it is Bitcoin that will become the basis for the new financial system.
At the end of last year, Kaiser said that the bill to raise the US national debt ceiling created “ideal conditions for the growth of bitcoin.”
Source: Bits
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