SBF: Bitcoin can't be used as a payment network
SBF believes that Bitcoin has no future as a payments network because of its inefficiency and high environmental costs. Although, he added that it does have the potential as a store of value but is incapable of sustaining "thousands/millions of TPS, although BTC can be transferred on lightning/L2s/etc."Notably, Bitcoin is created through a "proof of work" process in which computers "mine" the currency by solving complicated puzzles. Large amounts of electricity are required to power these computers. The "proof of stake" network is an alternative to the system, in which players buy tokens that allow them to join the network. They can mine more tokens the more they hold.
According to a Financial Times report, FTX Founder stated that "proof of stake" networks would be essential to advance crypto as a payments network because they are less expensive and less energy-consuming. Ethereum, the second-largest cryptocurrency behind bitcoin, has been attempting to migrate to this energy-intensive network.
According to the report, Bankman-Fried also stated that BTC did not have to become a cryptocurrency and that it might still have a future as "an asset, a commodity, and a store of value" like gold.
FTX CEO agrees with Elon Musk
SBF is not the first big name that has attacked Bitcoin amid its adoption as a legal tender in El Salvador and the Central African Republic. Previously, Tesla founder and the richest man on the planet, Elon Musk, has also stated that BTC is not suitable for transactions for its slow transfers and higher network fees. He also compared BTC with meme token Dogecoin, which he thinks is perfect for day-to-day transactions. SBF reiterated what Elon said at the time:Bitcoin is at its base level, suitable for maybe a store of value.
Continue reading by joining Cryptonary Pro
$997/year
Get everything you need to actively manage your portfolio and stay ahead. Ideal for investors seeking regular guidance and access to tools that help make informed decisions.
For your security, all orders are processed on a secured server.
As a Cryptonary Pro subscriber, you also get:
3X Value Guarantee - If cumulative documented upside does not reach 300% during your 12-month membership, you can request a full refund.
24/7 access to experts with 50+ years’ experience
All of our top token picks for 2025
On hand technical analysis on any token of your choice
Weekly livestreams & ask us anything with the team
Daily insights on Macro, Mechanics, and On-chain
Curated list of top upcoming airdrops (free money)
3X Value Guarantee
If cumulative documented upside does not reach 300% during your 12-month membership, you can request a full refund.
Our track record speaks for itself
With over 2.4M tokens and widespread misinformation in crypto, we cut through the noise and consistently find winning assets.
Our track record speaks for itself
With over 2.4M tokens and widespread misinformation in crypto, we cut
through the noise and consistently find winning assets.
Frequently Asked Questions
Can I trust Cryptonary's calls?
Yes. We've consistently identified winners across multiple cycles. Bitcoin under $1,000, Ethereum under $70, Solana under $10, WIF from $0.003 to $5, PopCat from $0.004 to $2, SPX blasting past $1.70, and our latest pick has already 200X'd since June 2025. Everything is timestamped and public record.
Do I need to be an experienced trader or investor to benefit?
No. When we founded Cryptonary in 2017 the market was new to everyone. We intentionally created content that was easy to understand and actionable. That foundational principle is the crux of Cryptonary. Taking complex ideas and opportunities and presenting them in a way a 10 year old could understand.
What makes Cryptonary different from free crypto content on YouTube or Twitter?
Signal vs noise. We filter out 99.9% of garbage projects, provide data backed analysis, and have a proven track record of finding winners. Not to mention since Cryptonary's inception in 2017 we have never taken investment, sponsorship or partnership. Compare this to pretty much everyone else, no track record, and a long list of partnerships that cloud judgements.
Why is there no trial or refund policy?
We share highly sensitive, time-critical research. Once it's out, it can't be "returned." That's why membership is annual only. Crypto success takes time and commitment. If someone is not willing to invest 12 months into their future, there is no place for them at Cryptonary.
Do I get direct access to the Cryptonary team?
Yes. You will have 24/7 to the team that bought you BTC at $1,000, ETH at $70, and SOL at $10. Through our community chats, live Q&As, and member only channels, you can ask questions and interact directly with the team. Our team has over 50 years of combined experience which you can tap into every single day.
How often is content updated?
Daily. We provide real-time updates, weekly reports, emergency alerts, and live Q&As when the markets move fast. In crypto, the market moves fast, in Cryptonary, we move faster.
How does the 3X Value Guarantee work?
We stand behind the value of our research. If the documented upside from our published research during your 12-month membership does not exceed three times (3X) the annual subscription cost, you can request a full refund. Historical context: In every completed market cycle since 2017, cumulative documented upside has exceeded 10X this threshold.
Recommended from Cryptonary
