Pierre Rochard, chief executive officer of Bitcoin Bond, strongly criticized altcoins, calling them a "clown show" lacking intrinsic value and describing them as instruments that merely follow Bitcoin. In a post on X, he said, "I don’t want to hear a word from the altcoin, crypto, web3, NFT, ICO, XRP, ETH, ADA, blockchain, whatever bozos and clowns." The Bitcoin maximalist published the manifesto as BTC fell below $75,000.
Rochard proposed a radical plan to spur a Bitcoin bull market. The creation of a strategic government reserve of BTC, the accumulation of the leading cryptocurrency by the Federal Reserve, and full exemption of Bitcoin transactions from taxation. He argued that BTC is not a foreign currency, and therefore, taxation of transactions is unjust. The comments followed unsuccessful efforts by crypto firms and banks on February 2 to resolve differences with lawmakers over stablecoins and token yields, which left the CLARITY bill on regulatory authority stalled.
Markets, meanwhile, were in a state of panic. Thus, Bitcoin fell 14.2% over the week and was trading around $76,000, with a 24‑hour trading volume of $67.43 billion and a market capitalization of $1.5 trillion. Rochard has previously argued that Ether will never overtake Bitcoin in market capitalization because of the superiority of BTC's protective mechanisms and that asset tokenization will not save altcoins.
