Max Keiser Believes The SEC Will Target “Garbage” Altcoins After XRP

Max Keiser believes that the SEC will target more “garbage altcoins” right after XRP, like Stellar and Cardano for example. In today’s crypto news, we take a closer look at his opinion.

The charges pressed by the US Securities and Exchange Commission against Ripple started an adverse snowball effect on the company and its XRP token. With the XRP value crashing in the past few days, some exchanges even delisted the asset, and Max Keiser believes that the SEC will attack more altcoins similar to Ripple in the first of many actions that will ultimately benefit BTC. Earlier this week, the SEC pressed formal charges against Ripple and alleged that the payment processor of conducting a $1.3 billion unregistered security offering but the company’s legal team and CEO insisted that the allegations are wrong and that the company will prevail with the adverse effects being evident.

XRP plummeted from $0.65 to $0.21 in past few days and it did manage to recover around $0.35 level today. The asset lost the position as the third-biggest crypto to Tether. A few exchanges and industry companies delisted the coin and other companies are already discussing the possibility.
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However, the negative effects spread out to other altcoins as well as the market receiving double-digit price drops while BTC remained among $23,000. Bitcoin’s dominance surged in the past few days to about 68%.

Despite XRP’s huge price drop, TV host Max Keiser predicted that the token can crash by another 99% from here. While he was speaking, he highlighted Bitcoin’s growing dominance and said that “adjusted for scams, bitcoin’s dominance is already at 95%.” He asserted that the SEC works as a BTC Drone and it will continue going after other “garbage coins” like Cardano and Stellar.

Keiser said that he started accumulating BTC when it was $1 pointed out to the actions undertaken by Microstrategy’s founder Michael Saylor and the hedge fund manager Paul Tudor Jones and he also considers them as “Bitcoin’s drones.” According to Keiser, Saylor started “borrowing hundreds of billions to purchase BTC and talking to CEOs everywhere.” Microstrategy initiated a similar endeavor that resulted in the purchase of $650 million while Saylor praised the asset in front of the likes of Tesla’s Elon Musk.

On the other hand, Jones pushed more hedge funds to purchase BTC as Keiser explained. The TV host bashed some other bitcoin critiques like Paul Krugman, Nouriel Roubini, and Peter Schiff saying that there are being destroyed by BTC while “we watch their minds turn to jelly in real-time as protocol attacks their insecurities and neurosis with a terminal vengeance.”