In response to the criticism from Jim Bianco of Bianco Research, the advisor to the President of El Salvador felt compelled to address the issue of Bitcoin exchange-traded funds (ETFs) in the United States. Bianco argued that ETFs have compromised the decentralization of Bitcoin within the traditional financial system.
However, Max Keiser, a Bitcoin maximalist and part-time advisor to the President of El Salvador, dismissed Bianco’s viewpoint as “short-sighted.” Keiser firmly believes that the launch of Bitcoin ETFs does not alter the fundamental nature of the cryptocurrency. According to him, Bitcoin remains impervious to external influences due to its transformative effect on the conventional relationship between money and government.
Moreover, Keiser has previously stated that all cryptocurrencies other than Bitcoin can be deemed fraudulent schemes. He highlights the unique resistance of Bitcoin to manipulation, emphasizing that the entire supply of BTC is mined by miners.