Willy Woo, a widely followed Bitcoin (CRYPTO: BTC) influencer and analyst, shared a controversial take Monday that called grouping altcoins and BTC under the "crypto" label a bad idea.
What happened: In an X post, Woo recalled a meeting with whom he claimed was the original creator of the Greed and Fear Index for TradFi.
"I asked him what he thought about BTC vs Alts. He nailed it… BTC is digital hard money. Alts are technology startups," Woo quoted the person as saying.
Woo, a Bitcoin maximalist, argued that BTC and altcoins are very different, and grouping them under the blanket term “crypto” is “dumbest.”
An X user, Ξffex, countered Woo's arguments, stating that both Bitcoin and altcoins are based on cryptography, which serves as the "foundation of blockchain technology."
Another user, Aldo, argued for greater nuance, pointing out that several altcoins also differed significantly from one another.
They highlighted Litecoin (CRYPTO: LTC)'s role in settling transactions, noting that it was far from being a technology startup.
See Also: Why Crypto Investors Are Receiving Internal Revenue Service Warning Letters
Why It Matters: Woo is known for setting ambitious long-term price targets for Bitcoin. Earlier this month, he theorized that the apex cryptocurrency will be priced against global GDP in the future.
According to CoinMarketCap, Bitcoin’s market dominance has risen from 56% to 64.5% in the first half of 2025, while that of altcoins, excluding Ethereum (CRYPTO: ETH), has narrowed from 30.9% to 26.4%. When BTC dominance is high, it typically implies that investors are more confident in Bitcoin relative to other cryptocurrencies.
Price Action: At the time of writing, Bitcoin was exchanging hands at $106,588.13, down 0.85% in the last 24 hours, according to data from Benzinga Pro.
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Photo Courtesy: Bukhta Yurii On Shutterstock
