Headed to $0? Adam Back Questions Long-Term Value of Altcoins, Memecoins

Bitcoin pioneer, Adam Back revisits altcoin warning, says "efficient market" finally catching up.

Tomiwabold Olajide · 24 May 2026 · 5 min read

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Headed to $0? Adam Back Questions Long-Term Value of Altcoins, Memecoins

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Tomiwabold Olajide

Sun, 24/05/2026 – 14:00

Bitcoin pioneer, Adam Back revisits altcoin warning, says “efficient market” finally catching up.

Headed to $0? Adam Back Questions Long-Term Value of Altcoins, Memecoins

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Blockstream CEO Adam Back, in a recent tweet, openly questions the long-term value of altcoins and memecoins. Back, an early figure in the Bitcoin community, suggested that many alternative cryptocurrencies could eventually head toward zero in value over time.

“I was expecting efficient market hypothesis to kick in with alts and price them at $0,” Back said in a tweet.

These comments reinforce a stance Back has maintained for years. Back stated he had made this call of altcoins heading to zero about a decade ago and remains quite surprised that it took this long for the efficient market to catch up with this class of crypto assets.

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i was expecting efficient market hypothesis to kick in with alts and price them at $0. but i was making that call a decade ago, so I am quite surprised it took this long for the efficient market to catch-up with air tokens, altcoins, memecoins etc.

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— Adam Back (@adam3us) May 23, 2026

“But I was making that call a decade ago, so I am quite surprised it took this long for the efficient market to catch up with air tokens, altcoins, memecoins etc,” Back said.

Altcoins heading to $0?

This viewpoint is not far-fetched as Back remains a Bitcoin bull, with an April report in The New York Times pointing to him as the most likely pseudonymous creator of Bitcoin known as Satoshi Nakamoto, which he denies.