“Ethereum an Outright Scam” Former Wall Street Trader and Podcast Host Max Keiser Says
Ethereum’s (ETH) strong performance in the past year alongside the rise of NFTs and DeFi has made some in the crypto industry bullish about the runner up cryptocurrency to Bitcoin (BTC), fantasizing that it could potentially flip Bitcoin.
Nevertheless, there is a majority that still label Ethereum and other crypto tokens as “scams”, albeit for their centralized nature.
In a recent interview with Kitco News, former Wall Street trader, host of the Keiser Report and co-host of The Orange Pill podcast, Max Keiser, said that altcoins and Ethereum in particular are “just outright scams.” He said:
“Every single day people are waking up to the fact that [altcoins] are just scams. They’re just outright scams. These DeFi projects routinely blow up, people are constantly getting blown up. [These protocols] are living in a grey area that’s outside of all regulation.”
4 million people in El Salvador were airdropped #Bitcoin, but are they actually using it?@MaxKeiser tells @MichelleMakori what it’s really like in the world’s first country to adopt $BTC as legal tender
*Watch the full interview https://t.co/EclWw5jjmy
#btc #crypto #USD pic.twitter.com/gyVBQdy9Di— Kitco NEWS (@KitcoNewsNOW) January 27, 2022
https://platform.twitter.com/widgets.js
Keiser, who is a known advocate for Bitcoin who has recently filed for citizenship in Bitcoin nation El Salvador where he is taking a leading role in developing the Bitcoin industry, added that any cryptocurrency other than Bitcoin simply is not sustainable. According to Keiser, Bitcoin is the best sound money solution on the planet, for its basic characteristics such as scarcity and decentralization. He noted:
“Bitcoin solves a problem that humans have had for hundreds of thousands of years and that is a need to exchange value for value over space and time.”
Prior to moving his wealth to BTC, Keiser had invested in gold. He added:
“Over the years, we’ve had this discussion of Bitcoin versus gold, and every year now, the case for Bitcoin is superior to gold. That story gets stronger and stronger. And therefore, some of the negatives of gold are more obvious and more disturbing.”
Although being somewhat of in his previous estimation of a $220,000 year-end price for Bitcoin in 2021, Keiser admits that the top crypto asset is still in its early stages of adoption, just like the internet 20 years ago and predicted that eventually its usage will be ”ubiquitous”.
At the time of writing, BTC is trading hands at $37,866.26, while ETH is priced at $2,576.46, according to CoinMarketCap data.
The post “Ethereum an Outright Scam” Former Wall Street Trader and Podcast Host Max Keiser Says appeared first on iGaming.org.
Source: igaming
