Martin Shkreli Predicts Ethereum’s Market Cap Will Eventually Overtake Bitcoin
- bitcoin mining is not sustainable
- crypto and crime
Former hedge fund manager and convicted felon Martin Shkreli, who was released from prison early on Wednesday, revealed that he was excited over Solana and Algorand during a recent conversation on the Twitter space.
“I think in five years you can sell your Solana for more,” Shkreli predicted.
He believes that the above two cryptocurrencies could “eat” the competitiveness of bitcoin.
Shkreli is also convinced that Ethereum will flip Bitcoin. “Given all the use cases for Ether, this is not going to be difficult,” Shkreli said.
bitcoin mining is not sustainable
When it comes to bitcoin, Shkreli believes that the world’s largest cryptocurrency will not survive for long. “Pharma Bro” described his energy dynamics as “waste”:
“I am bearish on bitcoin in the long term… if someone were watching from Mars, they would think we were crazy,” Shkreli quipped.
Shkreli used this power to build complex infrastructure and use this power for crunching numbers as “obviously insane”. “I don’t think it’s sustainable,” Shkreli said.
He believes bitcoin could hit $500,000, but it is important to remain skeptical.
crypto and crime
Shkreli, widely criticized for raising the price of the life-saving drug Daraprim, by 5,000%, was sentenced back in 2018 to seven years in prison for committing securities fraud.
The convinced criminal also addressed the crypto crime, claiming that it is “horrible” when people abuse the system “with no intention of getting anything out of it.”
“We have seen this intersection of crypto and crime since Ross Ulbricht imprisoned for life.”
He also recalled that former Ethereum developer Virgil Griffith was recently sentenced to more than five years in prison for helping North Korea evade sanctions.
Shkreli said that there is a disproportionate share of crime in crypto.