Bitcoin
BTC Maxi Reveals Reasons Why BTC Outperforms ETH, SOL, XRP
Fred Krueger, a prominent Bitcoin maximalist, delivered a scathing critique of the top 19 cryptocurrencies in a recent statement. Furthermore, he emphasized why he believes Bitcoin (BTC) remains the superior choice for investors. Furthermore, he highlighted the flaws of 19 major altcoins, including Ethereum (ETH), Solana (SOL), XRP and Cardano (ADA).
Why is BTC superior to major Altcoins?
Krueger began by addressing Ethereum and highlighted its significant decline since 2019, when it peaked at 0.12 ETH/BTC. Furthermore, he noted its current position at 0.056 due to Ethereum’s declining trend against Bitcoin. Additionally, maxi pointed out Consensys’ ongoing legal battles with the SEC over the status of Ethereum.
Furthermore, it highlighted centralization issues associated with ETH. Stablecoins like Tether (USDT) and USD Coin (USDC) have also been criticized. Krueger argues that USDT offers no upside potential and does not pay interest despite prevailing interest rates of 5%. Additionally, he mentioned that USD Coin (USDC) shut down a few years ago and saw a decline in assets under management (AUM).
Binance Coin (BNB) is criticized for being a “highly centralized exchange currency”. Furthermore, Krueger suggested that its decline is inevitable as Binance faces regulatory challenges and its former CEO, Changpeng Zhao (CZ), faces possible prison time. Similarly, Solana (SOL) is considered a “completely centralized meme coin factory” prone to periodic outages.
Furthermore, Krueger highlighted that SOL is down 40% against Bitcoin since 2022 despite its recent recovery. Furthermore, Ripple’s XRP it is described as having “no real use” and being driven mainly by its promoters. Although Dogecoin (DOGE) is labeled as a “literal joke” with no redeeming features or meaningful use.
Meanwhile, Shiba Inu (SHIB) is labeled as a poor imitation of Dogecoin. Other cryptocurrencies such as Toncoin (TON), Cardano (ADA) and Avalanche (AVAX) were also heavily criticized. TON is considered a “Telegram coin” with limited use and regulatory issues.
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Bitcoin Maxi targets ADA, NEAR and others
Additionally, Krueger describes ADA as a “useless doctoral coin” promoted by someone skeptical of Bitcoin’s future, alluding to Cardano founder Charles Hoskinson. Furthermore, AVAX is considered useless and underutilized. Krueger also did not spare Chainlink (LINK), Polkadot (DOT) and Tron (TRX).
Furthermore, the usefulness of LINK is questioned, DOT is seen as expensive and based on the reputation of its co-founder, and TRX is labeled as a “scam network” widely used for Tether transactions. Bitcoin Cash (BCH) is considered a “useless fork of Bitcoin”.
While Near Protocol (NEAR) and Polygon (MATIC) are criticized for their complexity, lack of users and poor performance. Furthermore, Litecoin (LTC) is said to have no use case and Krueger believes it exists due to its early start. Additionally, PEPE, a frog-themed meme coin, is ridiculed for its high market valuation.
Furthermore, Krueger concluded that these altcoins are “real jokes” as they collectively have a market value of US$500 billion, which is nowhere near Bitcoin’s US$1.3 trillion valuation. His statements reinforce his firm conviction that Bitcoin remains the only viable investment in the cryptocurrency scene.
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