U.Today: Maximalist Max Keizer has once again delivered harsh criticism of the second-largest cryptocurrency by market cap value, giving the community reasons why he believes ETH is a loser compared to Bitcoin.
He stated that Ethereum will ultimately fall to zero against BTC.
Max Keizer's arguments against Ethereum
Former financial commentator and Wall Street trader Max Keizer posted a tweet in which he once again criticized Ethereum. Keizer has done the same before, not only with ETH but also with ADA, SOL and other altcoins, as he, as a Bitcoin maxi, considers any cryptocurrency except Bitcoin to be centralized and an unregistered value.
This time, however, the rigorous Bitcoiner strengthened his defense of BTC against ETH with several key reasons why he believes ETH is heading to 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, ensuring 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 was Ethereum later. However, debates on this topic have increased again recently and it is unclear whether ETH will maintain its beneficial 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 filings. This is because the SEC recently filed legal charges against US exchanges Coinbase (NASDAQ:) and Kraken for their staking offers to customers, and ETH was included on that list among other altcoins.
Samson Mow Ridicules VanEck's $22,000 ETH Prediction
Another prominent Bitcoin maximalist, Samson Mow, posted a tweet sharing his opinion on the recent Ethereum prediction made by VanEck.
@vaneck_us tweeted that they have increased their ETH price target to $22,000 by 2030. This decision was influenced by the news of the approval of Ethereum spot ETFs, the progress Ethereum developers have been making with scaling the blockchain. blocks and was also based on VanEck's reading of on-chain data.
Samson Mow, finding that highly unlikely, reacted with a single word: “LMAO.”
This article was originally published on U.Today.
