Altcoins
BTC Maxi reveals reasons why BTC outperforms ETH, SOL, XRP
Fred Krueger, a prominent Bitcoin maximalist, offered a scathing critique of the 19 major cryptocurrencies in a recent statement. Additionally, he highlighted why he believes Bitcoin (BTC) remains the best 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 the best Altcoins?
Krueger started by addressing Ethereum and highlighting its significant decline since 2019, where it peaked at 0.12 ETH/BTC. Additionally, he noted that its current position is 0.056 due to Ethereum’s downward trend against Bitcoin. Additionally, the maxi highlighted the ongoing legal battles between Consensys and the SEC regarding the status of Ethereum.
Additionally, he highlighted the centralization issues associated with ETH. Stablecoins like Tether (USDT) and USD Coin (USDC) have also come under fire. Krueger claims that USDT offers no upside potential and does not pay interest despite current interest rates of 5%. Furthermore, he mentioned that USD Coin (USDC) deindexed a few years ago and experienced a decline in assets under management (AUM).
Binance Coin (BNB) is criticized for being a “highly centralized exchange coin.” Additionally, Krueger suggested that its decline is inevitable as Binance faces regulatory challenges and its former CEO Changpeng Zhao (CZ) faces prison time. Likewise, Solana (SOL) is considered a “fully centralized coin factory” subject to periodic shutdowns.
Additionally, Krueger highlighted that SOL is down 40% against Bitcoin since 2022 despite its recent rally. Moreover, Ripple’s XRP is described as having “no real use” and being primarily driven by its promoters. While Dogecoin (DOGE) is referred to as a “literal joke” with no redeeming features or meaningful use.
Meanwhile, Shiba Inu (SHIB) is being called a poor imitation of Dogecoin. Other cryptocurrencies like Toncoin (TON), Cardano (ADA), and Avalanche (AVAX) have also been 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 PhD coin” promoted by someone skeptical of Bitcoin’s future, alluding to Cardano founder Charles Hoskinson. Additionally, AVAX is deemed worthless and underutilized. Krueger also did not spare Chainlink (LINK), Polkadot (DOT) and Tron (TRX).
Additionally, LINK’s usefulness is questioned, DOT is considered too expensive and relies on the reputation of its co-founder, and TRX is called a “fraudulent 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. Additionally, Litecoin (LTC) would have no use case and Krueger believes it exists due to its early creation. Additionally, PEPE, a frog-themed coin, is ridiculed due to its high stock market valuation.
Furthermore, Krueger concluded that these altcoins are “really jokes” because they collectively boast a market cap of $500 billion, which is a far cry from Bitcoin’s $1.3 trillion valuation. His statements underline his firm conviction that BTC remains the only viable investment in the cryptocurrency landscape.
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