Founder of Europe’s Oldest Crypto Fund Labels Bitcoin as a Meme Coin

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Justin Bons, Founder and CIO of Europe’s oldest crypto fund Cyber Capital, is known for his sharp remarks on Twitter. In a statement dated January 29, he ignited an interesting debate by describing Bitcoin (BTC) as a meme coin.

Bons’ Perspective on Bitcoin

While presenting his claims about Bitcoin, Bons grounded them in his own views. He pointed out that Bitcoin operates within a structure similar to meme coins, highlighting a lack of “purpose and serious benefit.”

Not stopping there, the founder of Cyber Capital also pointed out Bitcoin’s low scalability and expressed criticism. He emphasized Bitcoin’s maximum capacity of 7 transactions per second (TPS). On the other hand, Justin Bons addressed the issue of “programmability” for the leading cryptocurrency, stating that BTC has “no benefit.”

These claims were not the first comments made by the well-known figure. Bons had made similar statements in previous writings.

Bitcoin and Meme Coins

On the other hand, the concept of ‘memecoin’ also shone with Dogecoin (DOGE), a derivative of the “Doge” meme coin that became popular in internet forums in 2013. Wikipedia defines meme coins based on multiple sources as follows:

A meme coin (also spelled memecoin) is a cryptocurrency that originates from an Internet meme or has another humorous characteristic. In the broadest sense, it can be used as a critique of the entire cryptocurrency market – those based on specific memes like “doge coins,” celebrities like Coinye, and pump-and-dump schemes like BitConnect – or it can be used to make cryptocurrency more accessible. This term is often used to belittle the value or performance of these cryptocurrencies in comparison to mainstream cryptocurrencies. On the other hand, supporters observe that some meme coins have become social currencies with high market values.

Following Dogecoin’s success, dozens of meme coins climbed to the top through rumors, price surges, and social acceptance. These coins are known for their high participation and for gathering strong, passionate communities around them.

After Dogecoin, meme coins such as Shiba Inu, PEPE, Floki, and most recently BONK have attracted significant attention from market participants.