As Bitcoin (BTC) attempted yet another rally towards $85,000 on April 1, Justin Bons, the founder and CIO of Cyber Capital, took to X to bash the world’s premier cryptocurrency.
Specifically, Bons argued that BTC is, in 2025, a mere outdated dinosaur that, while being a successful experiment, is no longer in a position to disrupt the world of finance in any way, shape, or form.
The Cyber Capital founder highlighted Bitcoin’s lack of ability to process numerous transitions per second, describing them as severely lagging behind other blockchains, and warned the flaw could easily prove catastrophic for investors and mining companies.
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He also warned that Bitcoin’s security has been collapsing in recent years, thus posing a danger to the entire ecosystem. He pointed toward cryptocurrency’s governance as the main culprit for its failures.
BTC is a dinosaur: The tech is ridiculously out-of-date! At an embarrassing max 7 Transaction-Per-Second, it is in a position to disrupt nothing. BTC’s collapsing security kill scarcity guarantees, putting users in danger! From utility to economics, BTC is a failure.
Is Bitcoin an existential threat to other crypto?
Indeed, Bons opined that ‘BTC has been captured by a relatively small group.’ However, the founder of Cyber Capital also highlighted that the problem is not the fault of traders and enthusiasts but the issue with the blockchain’s design.
Lastly, Justin Bons concluded that the world’s premier cryptocurrency has become a ‘game’ he is refusing to play and warned that Bitcoin has become an existential threat to other digital assets.
Simultaneously, he urged the community to stop ‘paying lip service to such a deeply flawed network,’ explaining in no uncertain terms he deems BTC to be running on technology that is ‘ridiculously out-of-date.‘
Are crypto traders abandoning Bitcoin?
The argument that Bitcoin is severely outdated by 2025 is nothing new, and the community, as well as the industry’s institutional actors, have been working on solutions such as layer two networks.
Thus far, the criticism has hardly impacted BTC’s dominance, though some factors indicate traders are losing confidence.
For example, the number of active Bitcoin addresses at the beginning of March of the current year was akin to the numbers seen in 2018 and far below the 2021 highs, according to the data Finbold retrieved from Glassnode on April 2.
The situation is all the more stark given that, even with the 2025 turbulence and the threat that the bull cycle will suffer an early end due to external pressure, Bitcoin’s price is – at $84,648 – higher than it was at any point prior to the November 2024 rally.
Featured image via Shutterstock
