Cyber Capital CIO Declares Bitcoin Outdated by 2025

Justin Bons, the founder and CIO of Cyber Capital, recently took to X to criticize Bitcoin (BTC), asserting that by 2025, the world’s premier cryptocurrency will be an outdated technology, akin to a dinosaur. Bons argued that while Bitcoin was a successful experiment, it is no longer capable of disrupting the financial world due to its limitations.

Bons highlighted several key issues with Bitcoin. He pointed out that Bitcoin’s transaction processing capability is severely limited, with a maximum of only 7 transactions per second. This, he argued, makes it incapable of competing with other blockchains that offer faster and more efficient transaction processing. He also warned that this flaw could have catastrophic consequences for investors and mining companies.

Additionally, Bons raised concerns about Bitcoin’s security, stating that it has been deteriorating in recent years. He attributed this to the cryptocurrency’s governance structure, which he believes is flawed and poses a danger to the entire ecosystem. Bons emphasized that Bitcoin’s collapsing security undermines its scarcity guarantees, putting users at risk.

Bons further opined that Bitcoin has been captured by a relatively small group, but he clarified that the issue lies not with traders and enthusiasts but with the blockchain’s design itself. He concluded that Bitcoin has become a ‘game’ he refuses to play and warned that it poses an existential threat to other digital assets. He urged the community to stop ‘paying lip service to such a deeply flawed network,’ deeming its technology ‘ridiculously out-of-date.’

The argument that Bitcoin is outdated is not new, and the community, along with institutional actors, has been working on solutions such as layer two networks. However, the criticism has not significantly impacted Bitcoin’s dominance. Some indicators suggest that traders may be losing confidence in Bitcoin, such as the number of active Bitcoin addresses at the beginning of March, which was similar to the numbers seen in 2018 and far below the 2021 highs.

Despite these criticisms, Bitcoin remains the most valuable cryptocurrency by market capitalization, with a significant number of investors and enthusiasts continuing to support it. Proponents argue that Bitcoin’s decentralized nature, fixed supply, and proven track record make it a reliable store of value and a hedge against inflation. They also point to its widespread acceptance and integration into various financial systems as evidence of its enduring relevance.

The debate surrounding Bitcoin’s future underscores the ongoing evolution of the cryptocurrency landscape. As new technologies and innovations emerge, the crypto community must navigate the challenges and opportunities they present. While some view Bitcoin as a relic of the past, others see it as a foundational pillar of the digital currency ecosystem, with the potential to adapt and thrive amidst competition.

The founder’s remarks have also sparked questions about the role of established cryptocurrencies in the face of emerging technologies. As the crypto market continues to evolve, it is crucial for investors and enthusiasts to stay informed about the latest developments and trends. By doing so, they can make more informed decisions about their investments and contribute to the growth and development of the cryptocurrency ecosystem.