Adam Back on Altcoins: Bitcoin’s Unrivalled Position in Crypto
Adam Back, the CEO of Blockstream and a respected figure in the Bitcoin community, stands firm in his belief that altcoins lack long-term value, asserting their inevitable decline. Back’s dismissive view on altcoins is clear: “None of them. I’ve never owned one. They are all going to zero.” His conviction stems from Bitcoin’s intrinsic qualities, particularly its limited supply, which he argues starkly contrasts with the growing number of alternative cryptocurrencies and memecoins that compromise claims of scarcity.
Back likens altcoins to prepaid services, suggesting that while they may serve a purpose—like gas fees for transactions—they do not constitute viable investments. He further elaborates that their utility does not warrant investment, remarking that they should not be classified as capital goods.
During the Bitcoin 2025 conference, Back highlighted a notable shift in the corporate investment landscape. He observed an increasing number of institutions favouring Bitcoin over altcoins, indicating a strategic move towards considering Bitcoin as a treasury asset. This change underscores Bitcoin’s perceived durability and capacity to adopt meaningful innovations without compromising its core integrity. He likens Bitcoin to a modern form of gold that combines traditional value with technological advancement.
Back expressed confidence in Bitcoin’s ability to integrate relevant technology, although he acknowledged the challenges of enhancing its robustness securely. He underscored the importance of these features, stating, “It’s just very difficult to improve, robustly, and securely, and that’s ultimately what matters.”
Reflecting on past trends, Back cast doubt on the future viability of altcoins. He reminisced about several coins, such as IOTA, Dash, and NEM, which were once hailed as the future in 2017 but have since experienced significant drops in market capitalisation and trading volume. While acknowledging that some altcoins may have recently garnered attention, he insists that only Bitcoin will sustain its relevance historically and financially.
Back urged audiences to reconsider their perspective on altcoins, predicting that in ten years, many will likely disappear while Bitcoin asserts its dominance in the cryptocurrency market. His sentiments reinforce the notion that Bitcoin, with its unique properties, will continue to lead the way in the evolving landscape of digital currencies.
In conclusion, Adam Back’s insights serve as a cautionary perspective on the altcoin sector, reinforcing the argument that Bitcoin’s scarcity, robustness, and institutional acceptance position it as a singularly valuable asset within the cryptocurrency domain.
