Ben Armstrong, Formerly BitBoy, Issues Warning To Crypto Community
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December 31, 2023 12:55 pm
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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.
There are basically two camps of crypto influencers. Those who are Bitcoin Maxi's & then there is the rest of us.
Bitcoin Maximalists will always say "Buy Bitcoin" only. For them, it isn't about the USD value. Most of them have enough Bitcoin not to worry about it. (2/12)
— Ben Armstrong (@BenArmstrongsX) December 26, 2023
Most non-Bitcoin centric channels tell their followers that while the generally goal is to get as much Bitcoin as possible, the easiest way to do this is by riding altcoin gains and pulling profits in Bitcoin. We don't usually recommend new investors buy Bitcoin first. (4/12)
— Ben Armstrong (@BenArmstrongsX) December 26, 2023
Stay away from Bitcoin – it's too expensive. Shocking that the cycle when Bitcoin will absolutely become unobtainable for the average upper middle class to even upper class family, is also the same cycle when a TradFi vehicle, a spot Bitcoin ETF launches.
And now… ⬇️ (6/12)
— Ben Armstrong (@BenArmstrongsX) December 26, 2023
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.
4 years ago the plan was to use the last cycle to push retail out of Bitcoin. That's old news now. The current plan is to push you out of Ethereum as it transitions to a store of value. $ETH is actually the Silver to $BTC's Gold. Sorry $LTC. Even @SatoshiLite sold the top. (8/12)
— Ben Armstrong (@BenArmstrongsX) December 26, 2023
#Solana obviously is pumping now and will continue to pump. It is the chosen VC liquidity pumper & now is on a course to become the Web2 transition chain. It's speed & cost make it a premier choice for people wanting to dive in on a deeper level than simply investing. (10/12)
— Ben Armstrong (@BenArmstrongsX) December 26, 2023
But the utility narrative will drive the price to what will become its cycle ATH right in time for the Ethereum Spot ETF to get approved. Then the elites will use the #SolanaSoldiers for exit liquidity as they put their profits into $ETH for the blowoff top – on 4/1/25. (12/12)
— Ben Armstrong (@BenArmstrongsX) December 26, 2023
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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