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Peter Brandt Warns Meme Coins Could Go to Zero in Next Crash
In a recent interview, Bitwise CEO Peter Brandt emphasized the importance of understanding Bitcoin’s scarcity and its potential impact on the broader cryptocurrency market. Unlike a lot of skeptics, Brandt is not totally dismissive of cryptocurrency. He has Bitcoin as a long-term investment and thinks it is the only digital asset with a proven track record.
However, he sounds more worried when he talks about the meme coins that have been surging in value recently. In his view, these assets are extremely speculative and lack any real fundamental value. Brandt warns that if there’s another market crash, meme coins could go to zero.
As the CEO of Bitwise, Brandt has a deep understanding of cryptocurrency markets and is not afraid to speak his mind. While he doesn’t completely dismiss the idea of meme coins, he believes their extreme volatility and lack of underlying value make them extremely vulnerable in the event of another market downturn.
It’s clear that Peter Brandt is deeply concerned about the potential risks associated with these types of assets and wants to warn investors to be cautious when investing in them.
Source: u.today
