Solana Founder Outrages Industry By Calling Bitcoin "Worthless Insurance"
March 4, 2025 at 12:52 PMby The Block Whisperer
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Solana co-founder Anatoly Yakovenko stirs controversy by calling Bitcoin "worthless insurance" with a 1% utility case, igniting fierce crypto tribalism.
Anatoly Yakovenko decided to wake up and choose violence.
Solana's co-founder dropped a nuclear take on Bitcoin that's got CT in an absolute frenzy.
The man called BTC worthless – except maybe if civilization collapses… which is a bit odd given Bitcoin runs on computers, but let’s hear him out.
"Bitcoin isn't an investment, it's a cost with no guarantee it'll work," he tweeted yesterday.
He called it expensive doomsday insurance you'll probably never need – strong words.
His math says there’s a measly 1% annual chance of a superpower collapse – the only scenario where Bitcoin supposedly matters.
Even more brutal, he suggested allocating just 1% of your portfolio to this "insurance policy."
Somewhere out there, Michael Saylor is no doubt raging.
Yakovenko doesn't care if BTC hits $100K or crashes to $10K.
"Price irrelevant for insurance," he claimed, dismissing 15 years of Bitcoin price history – he practically said all Bitcoin development since 2009 has been pointless theater.
Then he had the nerve to compare it to fire insurance on a house that'll probably never burn down.
At this point, it was a bit clear to those who understand how social media and mindshare works that the man was putting on a top-tier trolling act to get the ears in the room finely tuned in to what he was saying.
It’s not his first rodeo stirring up trouble with the Bitcoin crowd, and he threw a small bone about currency debasement protection before twisting the knife deeper.
Meanwhile, he took the time to shill Solana's fee revenue model as actually valuable – there it is, the classic move of trash talking the competition while pumping your own bags.
Bitcoiners aren't having any of it.
"Tell me you don't understand Bitcoin without telling me," one popular maxi responded.
Others pointed out Bitcoin's daily use in Argentina, Turkey, Lebanon – no collapsed superpowers required, just immensely poor (or to-be-expected?) levels of government mismanagement.
Most just called out the obvious conflict of interest from someone running a competing L1.
The good news is that Bitcoin doesn't care about Twitter beef – it was up 2% to just over $86K while Yakovenko was busy talking trash.
Fourteen years of FUD immunity builds thick skin, and Wall Street's busy buying while CT argues – classic crypto.
This fight is really about competing visions:
They're not even playing the same game, despite what Anatoly implies.
Founder narratives shape retail investment decisions as these tribal battles define crypto's cultural divide.
Each blockchain serves different purposes – something Anatoly conveniently ignores while masterfully trolling his way into a greater piece of mindshare.
Trash talk aside, both networks keep attracting developers and capital, so for on-chain investors who are just in it for “line go up,” that’s a big win either way.
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