Justin Bons, the Founder and Chief Investment Officer at Cyber Capital, referred to meme coin investors as gamblers.
The top analyst stated that investing in meme coins equates to gambling.
Bons labeled Bitcoin a meme coin with overrated fundamentals.
He mentioned that he solely invests in layer 1 assets for the best returns.
On June 16, Justin Bons shared on his social media that meme coin traders should not consider themselves investors but rather gamblers. He highlighted that investors research fundamentals, which meme coins lack, hence their classification.
His tweet prompted varied reactions from the crypto community, with many rejecting the gambler label and asserting their investor status.
In response, one follower emphasized prioritizing consistent profit generation with a proven strategy over labels. Bons affirmed his identity as a fundamental value investor with a steadfast approach.
During an exchange with podcaster Hotep Jesus, Bons was reminded that altering word definitions at will is not permissible. The analyst then queried whether this point was raised due to his recent reference to BTC as a meme coin on Jesus’ show.
When questioned about his preferred crypto investment areas, Bons disclosed his focus on Layer 1 projects and heavy involvement in DeFi, emphasizing their logical appeal.
Besides Justin Bons, others have previously likened Bitcoin and other digital asset investments to gambling.
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