This time, he particularly took aim at $XRP and $ETH, stating that they are “unquestionably securities.” Keiser is positive they will keep this label even if U.S. regulators "mischaracterize" them. He added that this would be regulators’ failure, however, it will change nothing about these cryptocurrencies for him personally.
$ETH & $XRP are unquestionably securities.
Regulators might mischaracterize them, but that would be a failure (capture?) of regulators and not change the fact they are securities.
In any event, they are mathematically guaranteed to go to effectively zero against #Bitcoin https://t.co/pwGMjQENsK
— Max Keiser (@maxkeiser) March 21, 2024
He then, again, claimed that both $XRP and $ETH “are mathematically guaranteed” to crash to zero against Bitcoin.
Here's why Bitcoiners slam altcoins
What the Bitcoiner means here is that the $BTC supply is programmatically limited to 21 million coins by its mysterious creator Satoshi Nakamoto. Unlike $BTC, the $ETH supply is 120,073,508 $ETH, and that of $XRP sits at 100,000,000,000 $XRP.
Bitcoiners’ rethoric about $BTC being a supreme crypto (and often referred to as the only cryptocurrency on the market among digital securities, by Jan3 chief executive Samson Mow, for example) is based largely on this Bitcoin characteristic. Thanks to the small fixed supply and halvings every four years, Bitcoin becomes more and more scarce. More than 19 million out of 21 million coins have already been mined. There have been three halving events already, and the fourth one is scheduled for the second half of April - less than a month away from now. Halvings create a supply shock.
Besides, there is a demand shock growing for Bitcoin as multiple spot Bitcoin ETFs continue to acquire hundreds of millions worth of Bitcoin per day. Until recently, they purchased 12x $BTC produced by miners per day (900 $BTC is the daily minted amount). However, over the past few days, $BTC inflows into ETFs have seen a drastic reversal.
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