Max Keiser, a well-known proponent of Bitcoin, has sparked controversy by sharing his predictions on the ongoing legal battle between Ripple and the Securities and Exchange Commission (SEC).
Keiser has confidently asserted that Ripple is destined to lose the case and has suggested that SEC Chair Gary Gensler’s ultimate goal was to dismantle Ripple’s digital assets.
As I keep telling you guys, the SEC swept away the independent ‘crypto’ exchanges & players, to make room for BlackRock, Wisdom Tree, Fidelity, etc. to get into #Bitcoin— Max Keiser, sr. bitcoin advisor pres. Bukele 🌋🧢 (@maxkeiser) June 21, 2023
XRP ain’t gonna win their case. This was never about the law. XRP was marked for death and Gary’s job is to…
This is going to ruffle some feathers, for sure. Let’s delve in.
El Salvador’s Historic Step
Expanding his perspective, Keiser highlights the recent groundbreaking move made by El Salvador in legalizing Bitcoin as an accepted form of legal tender. According to Keiser, this decision not only challenges the existing status quo but also exposes the arbitrary classification of cryptocurrencies as unregistered securities. Keiser believes that El Salvador’s audacious step could potentially reshape the perception of digital currencies.
ETFs: A New Tool For Entering Bitcoin?
Keiser also comments on the growing trend of prominent companies vying for the launch of a spot Bitcoin exchange-traded fund (ETF). He specifically mentions WisdomTree’s application for the WisdomTree Bitcoin Trust ETF, following a similar move by BlackRock. Keiser contends that the SEC’s recent enforcement actions against independent players and cryptocurrency exchanges have paved the way for major institutional players like BlackRock and WisdomTree to enter the Bitcoin market.
Keiser Bashes Altcoins and XRP
Max Keiser has earned a reputation for his unwavering support of Bitcoin and his frequent criticism of alternative cryptocurrencies, particularly XRP. In his outspoken nature, Keiser has referred to XRP as a “sh*tcoin” and has backed the SEC’s allegations that it should be classified as a security. Keiser’s attacks on XRP are typically amplified whenever the SEC takes enforcement actions against other crypto assets, often provoking strong responses from the XRP community.
John Deaton Chimes In
Notably, the passionate and loyal XRP community promptly responds whenever Keiser makes derogatory remarks about their favored cryptocurrency. However, in an unexpected turn of events, prominent pro-XRP lawyer John Deaton agrees with Keiser on one particular point. Deaton supports Keiser’s claim that SEC Chair Gary Gensler is safeguarding incumbents and preserving the status quo, potentially at the expense of emerging competitors.