Renowned trader Peter Brandt has reignited tensions within the crypto community after taking a blunt swipe at hardcore Bitcoin holders.
In a fiery outburst on social media, the veteran chartist criticized what he sees as cult-like behavior surrounding Bitcoin, accusing some users of treating it as a “religion” rather than a financial instrument.
Brandt, known for his decades of experience in commodities trading, didn’t hold back. “Most of you are a bunch of idiots who borrow money to buy pizza,” he wrote, expressing frustration over the unwavering ‘hodl’ mindset prevalent among Bitcoiners. He warned that anyone expecting Bitcoin to fix their life is “in for a rude awakening.”
The comments sparked immediate backlash, with users on X (formerly Twitter) firing back. “You’re just getting old and cranky,” one critic replied, summing up the reaction of many who felt Brandt had crossed a line.
Brandt, who has more than 800,000 followers, later admitted he was fed up after getting into yet another debate with crypto enthusiasts online. “I’ve had it up to the tip of my head,” he wrote, signaling he may be nearing his limit with what he calls “ideological extremists.”
Michael Saylor, co-founder of MicroStrategy and one of Bitcoin’s most vocal proponents, couldn’t resist jumping into the fray. Responding to Brandt’s criticism, Saylor offered a more nuanced definition of Bitcoin, calling it “an asset, circulating on a network, governed by a protocol, and rooted in ideology.”
While Saylor didn’t directly address the insults, his response hinted at the deeper philosophical divide that continues to polarize the crypto space—between those who view Bitcoin as revolutionary, and those who see it as just another tradable asset.
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Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/bitcoin-ideology-is-giving-it-a-bad-name-says-trading-legend/