Tezos Co-Founder Criticises Bitcoin’s Store of Value Amid Market Turmoil

On 5 August 2024, Tezos co-founder Kathleen Breitman discussed why Bitcoin’s price recently fell below $50,000. She said the drop is due to market worries, including fears of a global recession and a big sell-off in Japanese stocks.

Breitman also mentioned that geopolitical tensions and recent interest rate changes by the Federal Reserve (Fed Res) have contributed to the decline. Additionally, she pointed out that rumours of large sell-offs by Jump Trading have added more pressure on Bitcoin trading price.

Breitman slammed Bitcoin as a store of value, calling it “internet pretend money” because of its speculative nature. She also compared the current crypto market reaction to the early COVID-19 period when economic uncertainty caused rapid selling of cryptocurrencies.

Tezos co-founder calls Bitcoin “pretend internet money” on CNBC pic.twitter.com/FZGXcqNoQC

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— Rhino Bitcoin App (@RhinoBTCapp) August 5, 2024

Despite Bitcoin’s volatility, Breitman believes it is still an important asset in the crypto sector. She argues that Bitcoin’s value and usefulness go beyond just being a store of value, even with the market’s ups and downs.

The @tezos cofounder was on @CNBC and she said some unpopular opinions about Bitcoin

Here are just a few highlights of what @breitwoman said:
– Bitcoin is Pretend Internet Money
– Bitcoin is just a Corner-Case tech
– The Store of Value narrative is Meme and is currently being… pic.twitter.com/WfxZoo9VGZ

— Robin Dubs.eth (@CryptoApe101) August 5, 2024

Due to this negative statement against Bitcoin by the Tezos co-founder, many crypto advocates reacted and criticized her for her harsh words, despite her being a part of the crypto space.

What??? Why is the co-founder of @tezos on @CNBC talking about why #Bitcoin is selling down????

Get real market participants on!!!

— David Nage (@DavidNage) August 5, 2024

Popular Bitcoin advocate Max Keiser said that El Salvador has made huge progress and development with Bitcoin adoption, while on the other hand, Tezos is associated with scammers.

El Salvador’s economy and people are benefiting hugely from Hard Money Bitcoin and is leading the world in economic freedom & human rights. @CNBC knows this, but instead features known Tezos grifters and scammers.

You guys treat your audience like mushrooms. Keep them in… https://t.co/Tef1JLl45C

— Max Keiser (@maxkeiser) August 5, 2024

A crypto enthusiast said that the Tezos co-founder fully depends on the entire crypto space’s operations but is still passing comments against Bitcoin, which is the origin of the whole crypto sector.

The co-founder of Tezos should never be asked back by CNBC to talk about anything!

What a tard! She questions if $BTC is a store of value. She calls crypto “magic internet money” and got drilled by Pompliano and had no replies.

You’re on CNBC, you’re a blockchain founder, and…

— bb (@SultanofStacks) August 6, 2024

Read also: Bitcoin (BTC) Surges Above $56K, Solana (Sol) Leads Recovery From Biggest Drop On Monday 

Tezos Co-Founder Criticises Bitcoin’s Store of Value Amid Market Turmoil

 

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