Altcoin
BTC Maxi reveals the reasons why BTC outperforms ETH, SOL, XRP
Fred Krueger, a prominent Bitcoin maximalist, laid out a scathing critique of the 19 major cryptocurrencies in a recent statement. Furthermore, 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 Cardan (ADA).
Why is BTC superior to the best Altcoins?
Krueger began by addressing Ethereum and highlighting its significant decline since 2019, when it peaked at 0.12 ETH/BTC. Furthermore, he noted that his current position is 0.056 due to Ethereum’s downtrend versus Bitcoin. Furthermore, the maxi highlighted the ongoing legal battles between Consensys and the SEC over the status of Ethereum.
Furthermore, he highlighted the centralization issues related to ETH. Stablecoins such as Tether (USDT) and USD Coin (USDC) have also come under fire. Krueger argues that USDT offers no upside potential and fails to pay interest despite prevailing interest rates of 5%. Furthermore, he stated that USD Coin (USDC) weakened a few years ago and saw a decline in assets under management (AUM).
Binance Coin (BNB) is criticized for being a “highly centralized exchange coin.” Furthermore, 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 dismissed as a “fully centralized meme coin factory” subject to periodic shutdowns.
Additionally, Krueger pointed out that SOL is down 40% versus Bitcoin as of 2022, despite its recent rally. Furthermore, Ripple’s XRP it is described as having “no real use” and driven primarily by its promoters. However, Dogecoin (DOGE) is labeled a “literal joke” with no redemption 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) have also been heavily criticized. TON is dismissed as a “Telegram coin” with limited use and regulatory issues.
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Bitcoin Maxi targets ADA, NEAR and others
Furthermore, Krueger describes ADA as a “useless PhD coin” promoted by someone skeptical of Bitcoin’s future, alluding to Cardano founder Charles Hoskinson. Furthermore, AVAX is considered useless and underutilized. Krueger did not spare Chainlink (LINK), Polkadot (DOT) and Tron (TRX) either.
Furthermore, LINK’s usefulness is questioned, DOT is considered overpriced 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 launch. 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 boast a market capitalization of $500 billion, which is nowhere near Bitcoin’s $1.3 trillion valuation. His statements underline his firm belief in this Bitcoin it remains the only viable investment in the cryptocurrency landscape.
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