Canadian billionaire Frank Giustra (프랭크 지우스트라) launched a direct criticism of the bitcoin maximalist camp, taking aim at Michael Saylor and Anthony Scaramucci (앤서니 스카라무치).

On June 24 local time, blockchain media outlet U.Today reported that Giustra hit back with a Mark Twain quote shortly after Scaramucci reaffirmed his support for Saylor on social media.

Scaramucci, founder of SkyBridge, said he would continue to stand with Saylor. Giustra then cited Mark Twain: "When you find yourself on the side of the majority, it is time to pause and reflect," and "If you are running ahead of the mob, sometimes look back to make sure the mob is still there." This is read as a warning that Strategy, led by Saylor, is moving too far ahead of reality with its aggressive bitcoin buying strategy, and that those who follow it could ultimately become isolated.

Giustra also continued his criticism of Saylor personally. He said, "Michael Saylor is the worst figure in bitcoin history." He also argued that bitcoin maximalists have pushed constantly exaggerated narratives that have caused major damage to the digital asset market and to bitcoin. He added that their exaggerated promotion also failed to lift bitcoin's price above a certain level.

He also made clear he was sceptical about price forecasts. Giustra has said there is more evidence supporting the existence of aliens than the possibility of bitcoin reaching $200,000, and he also joked that a market downturn could be good medicine for bitcoin maximalists.

The core of his remarks is a negative assessment of bitcoin's usefulness. Giustra argued that bitcoin's rise was inflated by overly aggressive predictions, and that greed and fear of missing out grew in the process but ultimately were not rewarded.

By contrast, he recognised some value in other digital assets. He said, "Stablecoins have utility, but bitcoin does not."

The remarks show that debate is resurfacing over investment narratives centred on bitcoin and digital assets focused on real-world use. Giustra is taking issue not so much with bitcoin itself as with an overheated culture of support around it and price optimism, and he also put Scaramucci's public support on the same line of criticism. That has increased the likelihood that the market will continue to see back-and-forth over the rationale for investing in bitcoin and the usefulness of stablecoins.

He is the worst thing that ever happened to bitcoin.