Adam Back Criticizes Valuation of Memecoins and Altcoins

Blockstream CEO Adam Back has criticized the valuation of memecoins, smart contract tokens, and other 'air tokens,' stating that efficient markets are finally repricing these assets. According to BeInCrypto, Back argues that most of these tokens lack genuine foundations for their valuations, producing no cash flows, attracting no meaningful demand, and holding no competitive advantages. Back, a Bitcoin maximalist and inventor of Hashcash, expressed surprise that the market correction took so long. He continues to advocate for buying and holding Bitcoin as the logical investment choice.