What is a Bitcoin maximalist?

The birth of Bitcoin has led to the creation of more than 2000 cryptocurrencies. However, a section of crypto enthusiasts believes that only Bitcoin is the real crypto, and others are shitcoins. These die-hard supporters are called Bitcoin (BTC) maximalists.

BTC maximalists consider altcoins (other cryptos apart from Bitcoin) to be morally and technologically flawed. They look beyond the economic value of BTC to see a world where the king crypto is used in governance and evade censorship. Although scalability issues have plagued Bitcoin, its die-hard supporters believe it’s something that can be improved over time.

As gold was to fiat, so is BTC in crypto

Most of their support is pegged on Bitcoin being equivalent to gold. Just as gold set the standard for the current fiat system, BTC will set the virtual currency world standard.

That’s not all. In their solidarity song, maximalists believe that integrating virtual currencies into the fiat system will be slow but steady. During this phase, conventional institutions and individuals are likely to pay attention to the oldest and most established coin, Bitcoin, before investing.

In some cases, a thin line exists between Bitcoin obsession and Bitcoin conservatism. The obsessive supporter believes only BTC should exist while conservatism acknowledges the existence of other cryptos but Bitcoin as the king.