Max Keiser, a Bitcoin (BTC) maximalist, says Ripple will lose its ongoing litigation with the US Securities and Exchange Commission (SEC) due to the regulator’s prejudice toward Bitcoin (BTC).
In a recent tweet about the lawsuit, Keiser argued that SEC Chair Gary Gensler is eager to abolish XRP and that the lawsuit was never about the law.
Keiser further stated that El Salvador’s recent decision to recognize Bitcoin as a legal tender demonstrates that the government is taking significant steps to abolish all other unregistered securities.
Read Also: Technically, XRP is a Security: Popular American Broadcaster Max Keiser
Keiser also commented on ongoing efforts by firms such as WisdomTree to develop spot Bitcoin exchange-traded funds (ETFs).
The SEC’s recent enforcement measures against independent players and crypto exchanges, according to Keiser, were intended to pave the way for BlackRock and WisdomTree to enter the Bitcoin industry. It’s worth mentioning that Keiser has previously slammed the diminishing popularity of cryptocurrencies, including XRP, calling them “sh*tcoins.”
Keiser’s repeated attacks on XRP have elicited comments from XRP supporters, with pro-XRP lawyer John Deaton agreeing with Keiser that the SEC is biased in favor of incumbents and the current quo. While Keiser expects that Ripple will lose the lawsuit, some of the XRP community remain optimistic about a possible outcome.
Keiser has continuously urged crypto investors to adopt Bitcoin rather than altcoins, in addition to his remarks on the Ripple case and WisdomTree’s ETF application. He has referred to altcoins as “sh*tcoins” and securities, implying that he believes they are worth less than Bitcoin. Keiser argues that Bitcoin’s status as the most popular cryptocurrency, along with its restricted supply, makes it a better long-term investment opportunity.
Despite Max Keiser’s harsh comments regarding XRP, many XRP supporters continue to support the cryptocurrency and are optimistic about the result of the SEC lawsuit. Members of the XRP community have challenged Keiser’s views on cryptocurrency and his focus on Bitcoin.
They contend that the case against Ripple is convoluted and that XRP is not definitely “marked for death.” They feel that XRP has real-world utility and that Keiser and others in the Bitcoin community have overestimated its potential. Despite these complaints, the XRP community is optimistic that the pending case will result in a favorable outcome.
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