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ETH towards zero vs. Bitcoin – Max Keiser gives key reasons
Yuri Molchan
Bitcoiner Max Keizer Shows Ethereum’s Weaknesses Compared to Bitcoin
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Bitcoin maximalist Max Keizer has once again harshly criticized the second cryptocurrency by market capitalization value, Ethereum, explaining to the community the reasons why he believes that ETH is a loser compared to Bitcoin.
He stated that Ethereum will eventually collapse to zero against BTC.
Max Keiser’s arguments against Ethereum
Former financial commentator and Wall Street trader Max Keizer posted a tweet criticizing Ethereum once again. Keiser has done the same in the past, not only with ETH but also with XRP, ADA, SOL and other altcoins since, like Bitcoin maxi, he considers any cryptocurrency except Bitcoin to be centralized and an unregistered security.
This time, however, the rigorous Bitcoiner has strengthened his defense of BTC against ETH with several key reasons why he believes ETH is “heading towards zero against Bitcoin.”
Keizer stated that Ethereum is not a commodity (like Bitcoin is) and does not run on the proof-of-work algorithm like Bitcoin does, and that it guarantees its decentralized aspects. Keizer also revealed that in El Salvador, where he currently lives and works as a Bitcoin advisor to President Nayib Bukele, Ethereum, along with all other altcoins, is classified as an unregistered security.
Bitcoin was classified by the SEC as a commodity due to its decentralized nature, as Ethereum was later classified. Recently, however, the debate on this topic has increased again and it is unclear whether ETH will maintain its advantageous status as a commodity.
Recently, the SEC regulator gave preliminary approval to Ethereum spot ETFs, but to achieve this issuers had to remove the staking option from their documents. This is because, recently, the SEC filed lawsuits against US exchanges Coinbase and Kraken over their staking offers to customers, and ETH was included in that list among other altcoins.
Samson Mow Ridicules VanEck’s $22,000 ETH Prediction
Another prominent Bitcoin maximalist, Samson Mowposted a tweet in which he shared his opinion on VanEck’s recent Ethereum prediction.
@vaneck_us tweeted that he increased his ETH price target to $22,000 by 2030. This decision was influenced by the news of the approval of spot ETFs on Ethereum, the progress Ethereum developers have made with scaling the blockchain and also from VanEck’s reading of data on the chain.
Samson Mow, deeming this highly unlikely, responded with one word: “LMAO.”
About the author
Yuri Molchan
Yuri is interested in technology and technical innovations. He has been writing about DLT and cryptocurrencies since 2017. He believes that blockchain and cryptocurrencies have the potential to transform the world in the future in many aspects of it. He has written for several crypto media. His articles have been cited by cryptocurrency influencers such as Tyler Winklevoss, John McAfee, CZ Binance, Max Keizer, etc.