Max Keiser: Bitcoin Dominates Altcoins in Cryptocurrency Debate

Saturday 30 May 2020, 1:03 AM AEST - 3 months ago

Max Keiser, host of the Keiser Report, claims that bitcoin has no cryptocurrency rivals and that most altcoins fail to live up to the standard set by BTC.

Speaking in an appearance on London Real, Keiser dismissed the possibility of a new crypto-asset emerging and eating into bitcoins market dominance.

He said,

Theres no coin out there that can do what Bitcoin doesnt do already or will be able to do shortly. What youre buying with Bitcoin is security.

Keiser continued, arguing that hard forks of bitcoin such as bitcoin cash and SV lack security compared to the original BTC.

The avid bitcoin supporter also referred to several altcoins as being pure exit scams, intentionally designed to manipulate investors.

He explained,

They have huge pre-mines that the founders are selling or dumping and making a lot of money. A lot of people are losing money, and they have no use case. So like a Ripple or an Ether, even, is an exit scam. Its to be avoided. Those are the top coins.

Keiser predicted that bitcoins market share and hash power, sitting at 65% and 85% respectively, will continue to rise relative to the market. He claimed that within five years bitcoin will account for 99% of all cryptocurrency hashing power and market capitalization.

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