Crypto YouTuber Ran Neuner believes that Bitcoin, Ethereum and other crypto assets might be beneficiaries of $100 billion in inflows if the SEC attacks USD-backed stablecoins. He claims that investors will not leave the market but instead put their money into Bitcoin and Ethereum, causing prices to skyrocket.
"If the SEC attack all the USD backed stable coins, over $100bn will be forced to exit the market or move into other crypto assets. Investors probably won’t exit, so the money will probably flow into Bitcoin & ETH causing a huge pump. When they attack us, it makes us stronger," Neurer said.
If the SEC attack all the USD backed stable coins , over $100bn will be forced to exit the market or move into other crypto assets. Investors probably won’t exit , so the money will probably flow into Bitcoin & ETH causing a huge pump.— Ran Neuner (@cryptomanran) February 14, 2023
When they attack us, it makes us stronger
The YouTuber said this in the wake of the Paxos-BUSD news. At the week's start, Paxos was ordered to stop minting new BUSD tokens and also issued a Wells Notice by the SEC that BUSD was an unregistered security.
Regulators appear to have adopted a more aggressive attitude against cryptocurrencies following the dramatic failures in 2022 that included digital-asset exchange FTX and cryptocurrency broker Voyager Digital.
Tim Draper predicts flight to quality and decentralized crypto
Bitcoin bull Tim Draper had one of the more bullish predictions for the digital currency in 2022, estimating that it will be worth $250,000 by the end of the year.
The multibillionaire venture capitalist later shifted the deadline for that forecast to mid-2023.
The largest cryptocurrency in terms of market capitalization, Bitcoin, is still expected to climb, according to Draper. "I expect a flight to quality and decentralized crypto like Bitcoin, and for some of the weaker coins to become relics," he told CNBC.