- Max Keiser labeled Ethereum, Cardano, Solana, and XRP as “centralized garbage” destined to lose value, reinforcing his belief that only Bitcoin has true merit.
- His criticism aligns with his support for classifying most altcoins as securities and predicting their inevitable decline.
Prominent Bitcoin maximalist Max Keiser has once again taken the spotlight by delivering a scathing critique of popular altcoins. Known for his unapologetically harsh views and steadfast belief in Bitcoin’s supremacy, Keiser recently launched an attack on Ethereum (ETH), Cardano (ADA), Solana (SOL), and XRP, dismissing them as “centralized garbage” headed toward zero value.
Keiser’s Harsh Words for Altcoins
In a recent post on X (formerly Twitter), Keiser labeled these major cryptocurrencies as “centralized garbage that will continue heading to zero against Bitcoin.” His comments came in response to a tweet from popular market analyst “Zero Hedge,” who had expressed frustration over Ethereum’s stagnant price, noting, “ETH < 2600. Never fails.”
Keiser’s dismissal of altcoins is hardly surprising. The former TV presenter and staunch Bitcoin advocate has consistently voiced his belief that Bitcoin is the only true cryptocurrency. He frequently refers to other digital assets as “shitcoins,” claiming they lack the decentralized integrity that Bitcoin offers.
Backing the SEC and Gensler’s Crypto Stance
In May, Keiser endorsed U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler’s position that all cryptocurrencies, except Bitcoin, should be classified as securities. Keiser even accused Ripple of selling unregistered securities, labeling XRP as a fraudulent product. His ongoing criticism of XRP continued last year when he famously declared that it would “trend to zero against Bitcoin,” while describing the token as “dogsh** pooped out by Brad Garlinghouse, Ripple’s CEO, to steal billions from unsuspecting investors.”
A History of Predicting Altcoin Decline
Keiser’s bearish stance is not limited to XRP. Earlier this year, he predicted a dramatic decline for Solana, suggesting it would fall from its previous highs of $100 to just $20. This aligns with his broader viewpoint that all altcoins, aside from Bitcoin, are doomed to fail.
Regulatory Concerns Weigh on Altcoins
The debate over whether certain altcoins should be classified as commodities or securities has been a contentious issue. While the SEC previously deemed Bitcoin and Ethereum as commodities, other altcoins like ADA, SOL, and DOGE have been categorized as securities, complicating their prospects for approval in spot ETFs. This regulatory uncertainty further fuels skepticism surrounding these altcoins, supporting Keiser’s belief that their future remains bleak.
Max Keiser’s controversial opinions continue to resonate within the crypto community, reigniting debates over the legitimacy of altcoins and reinforcing the idea that Bitcoin is the sole, decentralized digital asset worth holding.
