Top Bitcoin Proponent Predicts Ripple Loss in SEC Lawsuit

Prominent Bitcoin proponent and El Salvador president Max Keiser have weighed in on the Ripple/SEC lawsuit, predicting a loss for the Fintech firm in the battle against the federal regulator. 

In a June 21 tweet, Keiser said Ripple would not win the lawsuit because XRP has been marked for death. According to the Bitcoin enthusiast, the ongoing legal between Ripple and the SEC was never about the law.

The XRP Lawsuit Was Never About the Law, Says Keiser

Keiser said XRP was already marked for death, and SEC chief Gary Gensler only acts as the executioner. 

Keiser’s remarks come in response to recent developments where three leading asset managers filed for spot BTC ETF approval with the SEC following the regulator’s lawsuit against top exchanges.

The Bitcoin proponent said the SEC is fighting top crypto exchanges and industry players to pave the way for BlackRock, WisdomTree, Fidelity, and others to join Bitcoin. 

“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,” Keiser said.

In addition, Keiser said El Salvador took bold steps to eliminate other cryptocurrencies besides Bitcoin. He noted that El Salvador declared Bitcoin as a legal tender and deemed other crypto assets unregistered securities.

“In El Salvador, we just got rid of all this nonsense with a new law that says Bitcoin is money. Everything else is unregistered security.”

It bears mentioning that WisdomTree Investments filed another spot Bitcoin ETF application, seeking SEC’s approval to launch its WisdomTree Bitcoin Trust. 

This move comes a few days after the world’s largest asset manager, BlackRock, applied with the SEC to start its iShares Bitcoin Trust, a spot ETF.

Again, Keiser’s comment seemingly connects to the just-launched crypto exchange, EDX Markets, backed by top Wall Street players, including Fidelity and Charles Schwab.

 The crypto exchange went live today and features only four cryptocurrencies, Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), and Bitcoin Cash (BCH).

Keisers Attack against Altcoins

Keisher is a well-known Bitcoin proponent and staunch altcoins critic who particularly dislikes XRP. He has called XRP a “shitcoin” on several occasions. The Bitcoin maxi previously supported the SEC’s argument that XRP is a security in the ongoing lawsuit. 

Besides his occasional attacks on the XRP community, Keiser sees other crypto assets except for BTC as securities and shitcoins. He often slams the XRP community while commenting on every SEC’s enforcement action against crypto. 

After SEC’s lawsuit against Binance and Coinbase, where the commission labeled a dozen cryptocurrencies, including ADA, BNB, MATIC, and SOL, as securities, Keiser fired deadly shots at XRP proponents in a tweet.

In the tweet, Keiser wrote, “Sorry XRP idiots,” with a photo of him in a Bitcoin-themed T-shirt, inscribed “I told you so.”

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