Veteran trader Peter Brandt unleashed a fiery critique of Bitcoin HODLers this week, calling them “a bunch of idiots who borrow money to buy pizza” on X (formerly Twitter). He urged them to “get a life,” warning that blind faith in Bitcoin will lead to disappointment. Brandt, with over 800,000 followers, clearly wasn’t holding back.
Brandt’s Attack on the HODL Mentality
Brandt argued that Bitcoin is “just an asset,” nothing more, and that treating it as a miracle cure gives crypto a bad name. He admitted to being fed up with endless online debates, saying he was “sick of it” on X. His message was less of a discussion and more of a blunt declaration.
His comments sparked a huge online reaction. Some agreed with his honesty, while others fired back with equally harsh words. The debate highlighted a major divide in the crypto world: traders focused on charts and risk versus HODLers who see Bitcoin as a movement.
The Crypto Community Fights Back
Brandt’s post generated hundreds of replies within hours, a mix of humor, anger, and memes about pizza and margin calls. Many pointed to Bitcoin’s impressive gains this year (over 50% since January), bolstering the confidence of HODLers and fueling their counter-attack against Brandt’s criticisms. Despite the backlash, Brandt stood his ground, reiterating the dangers of tying your identity too closely to Bitcoin’s price. He warned that markets are unpredictable and can change quickly. His bluntness cut through the hype, but it also risked deepening the divide within the community.
Saylor’s Balanced Take
Michael Saylor, without directly mentioning Brandt, offered a more balanced perspective. He described Bitcoin as “an asset, circulating on a network, governed by a protocol, and rooted in ideology,” acknowledging both the technical aspects and the passionate community behind it.
