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October 5, 2022
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Max Keizer: SEC to target other “junk” Altcoins after Ripple

Max Keizer says the SEC will not stop Ripple. It will target other “garbage” coins, such as Stellar and Cardano.

The accusations made by the United States Securities and Exchange Commission against Ripple initiated an adverse snowball effect on the company and its native token. With the value of XRP plummeting in the past few days and some exchanges withdrawing trading assets, Max Keizer said that Ripple is the first of many to fall and SEC shares will ultimately benefit bitcoin.

XRP and other “garbage” coins will be destroyed

Earlier this week, the SEC filed formal charges against Ripple, claiming that the payment processor conducted a $ 1.3 billion unregistered bond offer. Although the company’s legal team and the CEO insist that the allegations are wrong and that Ripple will eventually prevail, the adverse effects are already evident.

The XRP plummeted from $ 0.65 to $ 0.21 in a few days, and although it managed to recover to around $ 0.35 today, it still fell sharply. The asset lost its position as the third largest cryptocurrency for Tether. Some exchanges and industry companies have removed XRP from the list, while others are actively discussing the possibility.

However, it appears that the negative effects have spread to most other altcoins as well. As previously reported, the market saw several double-digit price drops in alts, while BTC remained above $ 23,000. Consequently, bitcoin’s dominance has increased in recent days to around 68%.

Keizer highlighted the growing dominance of BTC. However, he said that bitcoin’s dominance is already at 95%.

He said the SEC functions as a “bitcoin drone” and will continue to pursue other “junk currencies” like Stellar, Cardano and more.

Bitcoin changes you, you don’t change Bitcoin

Keizer, who previously said he started accruing BTC when it was trading at $ 1, described the actions taken by MicroStrategy founder and CEO Michael Saylor and hedge fund manager Paul Tudor Jones. Like the SEC, Keizer referred to both as “bitcoin drones”.

According to Keizer, Saylor began to “borrow hundreds of billions to buy bitcoin and talk to CEOs everywhere”. MicroStrategy did initiate a similar effort recently that resulted in the purchase of $ 650 million of BTC, while Saylor openly praised the asset in front of companies like Tesla’s Elon Musk and SkyBridge Capital.

On the other hand, Jones pressed additional hedge funds to buy BTC, explained Keizer.

The TV presenter has not missed the opportunity to criticize some of bitcoin’s best-known critics, such as Peter Schiff, Paul Krugman and Nouriel Rubini. Keizer said “they are being destroyed by bitcoin”, while “we are watching their minds turn to gelatin in real time while the protocol attacks their insecurities and neurosis with a terminal vengeance”.

As soon as BTC finishes converting those who wish and destroying the wicked, the cryptocurrency will turn its attention to central banks, some of which “will explode, causing huge disruptions, but no one who has followed bitcoin will be surprised”.

Ultimately, Keizer said that BTC is “voraciously destroying anything that stands in its way. Bitcoin changes you. You don’t change bitcoin. “

Source: cryptopotato

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