Prominent investor has slammed SOL, said he sticks with Bitcoin
Mike Alfred, an investor in stocks and bitcoin, has tweeted to compare Solana’s native token SOL to Santa Claus, adding that while children believe in Santa, some adults still believe in Solana and see the rise of SOL in the future. are supposed to.
Alfred sticks with Bitcoin, rejects SOL
Crypto analyst Miles Deutscher stated that there is no such a thing as a “bad product,” there is only a bad buy. He believes that once SOL reaches price at which it will become a buy with a +EV (EV=expected value), and at that moment it will not matter if a trader believes in it or does not.
Alfred prefers to agree to differ. They said they would stick with value equities and bitcoin; “To each his own,” he said.
Since the start of November, the aforementioned SOL token (which used to be among those called “Ethereum killers”) has been in free fall and lost more than 50% — the price dropped from the $36.88 level to the current $11.35 mark.
what happened to sol recently
Solana was one of the platforms that suffered severely from the infamous crash of the FTX exchange and the bankruptcy of its founder Sam Bankman-Fried. The SBF strongly supported SOL and several of its ventures invested heavily in it. These investments included the purchase of $1.2 billion worth of SOL through his pocket trading firm, Alameda Research.
Besides, Alameda reportedly held $1.15 billion in this token and then began selling it, along with other altcoins, to prevent the collapse of FTX’s native token, FTT.
