Max Keiser, notable Bitcoin maximalist, has once again criticized Ethereum, claiming that it will eventually crash against Bitcoin and reach zero value. Keiser, who has previously expressed similar sentiment towards altcoins like Cardano, Solana, and others, considers them centralized and unregistered securities. In his latest tweet, Keiser reinforced his pro-Bitcoin stance against Ethereum, providing a few key reasons for his belief that ETH is «heading to zero against Bitcoin.»
Ethereum lacks decentralization and commodity status
According to Keiser, one of the reasons why Ethereum is destined to fail against Bitcoin is because it is not a commodity like Bitcoin. Ethereum does not operate on the proof-of-work algorithm that guarantees decentralization. Keiser added that El Salvador, where he currently resides as a Bitcoin advisor to President Nayib Bukele, classifies Ethereum and all other altcoins as unregistered securities.
Debate over Ethereum’s commodity status
While the SEC has already classified Bitcoin as a commodity due to its decentralized nature, Ethereum’s status remains uncertain. Recently, the SEC granted preliminary approval for spot Ethereum ETFs but required these issuers to remove the staking option from their filings. This decision comes after the SEC filed legal charges against major US exchanges Coinbase and Kraken for their staking services, which included Ethereum and other altcoins.
Skeptical response to an optimistic Ethereum prediction
Bitcoin maximalist Samson Mow responded skeptically to VanEck’s recent prediction that Ethereum could reach $22,000 by 2030. VanEck based its forecast on the approval of spot Ethereum ETFs, advancements made by Ethereum developers in scaling the blockchain, and its interpretation of on-chain data. In response, Mow simply reacted with a single word, «LMAO.»
«Bitcoin maxi Max Keiser reiterated his belief that Ethereum is doomed against Bitcoin, predicting its value will crash to zero.»
- Max Keiser criticizes Ethereum, claiming it will crash to zero against Bitcoin.
- Keiser believes Ethereum lacks decentralization and is not a commodity like Bitcoin.
- Ethereum’s status as a commodity remains uncertain amid ongoing debates.
- Bitcoin maximalist Samson Mow mocks VanEck’s optimistic Ethereum prediction.