The first cryptocurrency should be treated with respect. Bitcoin should not be turned into a so-called "toy for the rich," crypto analyst Justin Bons warned. He pointed out that such an approach could lead to Bitcoin's collapse, as in the long term, developers might seek to increase the maximum number of coins in circulation. Currently, this limit is set at 21 million.

Bitcoin is no longer a free currency. Citizens cannot use it directly. It is no longer suitable for that. Justine Bons lamented that Bitcoin has turned into a speculative toy for the wealthy, with no practical significance or real value for human civilization.

According to the analyst, "greedy businessmen and companies" have distorted Satoshi Nakamoto's vision who is the creator of Bitcoin. Nakamoto aimed to create a global peer-to-peer digital payment system that seamlessly blends security and stability. However, harsh reality has altered that vision.

The expert predicts that the mining industry will shrink so much in the near future that a 51% attack on the BTC network will become feasible. Justine Bons notes that the network's throughput remains low. Satoshi Nakamoto supposed that the block size limit in the BTC network would be raised, but this did not happen. As a result, programmers will have to implement another hard fork, the analyst concludes.

Previously, Peter Schiff, an economist and cryptocurrency skeptic, criticized the new administration of US President-elect Donald Trump for supporting Bitcoin. According to Schiff, this initiative will undermine the US economy.