Ben Armstrong, Formerly BitBoy, Issues Warning To Crypto Community

December 31, 2023 12:55 pm Comments

Ben Armstrong, formerly known as BitBoy, has issued a warning to the crypto community.

The crypto influencer told his followers that financial elites and institutions are attempting to push retail investors out of Bitcoin and Ethereum by selling the siren song of outsized altcoin gains.

Armstrong explained that these institutions consistently hammer the point home that Bitcoin is simply too expensive of an investment and that most people have already missed the train. Of course, this is not so, according to the crypto influencer.

Indeed, many in the crypto community have voiced similar theories as Armstrong—claiming that financial giants such as BlackRock will deliberately sink the price of Bitcoin so they can acquire vast amounts of the currency for their ETF offerings cheaply.

His ultimate conclusion was that Bitcoin is incredibly important and that Solana will be in the top five coins for gains in 2024.

According to Cryptopolitan, Armstrong also warned XRP holders not to divest too soon:

While XRP’s performance may have appeared lackluster recently, Armstrong believes that selling it prematurely could result in missed opportunities. Here’s a breakdown of the key points from his recent message.

Ben Armstrong acknowledged that XRP has not performed as impressively as some other cryptocurrencies like Solana (SOL) and Avalanche (AVAX). However, he argued that attributing XRP’s underperformance to its inherent weaknesses is a narrow view.

Coin Telegraph provided a recent update on the upcoming Bitcoin ETFs:

Filed on Dec. 18, the S-1 amendments relate to the cash creation and redemption model for proposed spot Bitcoin ETFs, with BlackRock and ARK accepting the cash redemption system rather than in-kind redemptions, which imply non-monetary payments like BTC.

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