Investor in shares and Bitcoin Mike Alfred has tweeted to liken Solana’s native token SOL to Santa Claus in that, whereas kids consider in Santa, some adults nonetheless place confidence in Solana and hope to see an increase of SOL sooner or later.

Alfred sticks with Bitcoin, rejects SOL

Crypto analyst Miles Deutscher said that there isn’t any such a factor as a “dangerous product,” there’s solely a nasty purchase. He believes that after SOL reaches worth at which it’ll turn into a purchase with a +EV (EV=anticipated worth), and at that second it is not going to matter if a dealer believes in it or doesn’t.

Alfred prefers to comply with differ. He mentioned that he would persist with worth equities and Bitcoin; “To every his personal,” he added.

Earlier than you make enjoyable of that child who nonetheless believes in Santa, simply bear in mind there are individuals who nonetheless consider in Solana

— Mike Alfred (@mikealfred) December 26, 2022

Because the begin of November, the aforementioned SOL token (which was once amongst these known as “Ethereum killers”) has been in free fall and misplaced greater than 50% — the value dropped from the $36.88 degree to the present $11.35 mark.

What occurred to SOL not too long ago

Solana was a kind of platforms that critically suffered from the notorious crash of the FTX alternate and the chapter of its founder, Sam Bankman-Fried. SBF supported SOL strongly, and plenty of of his ventures invested in it closely. Amongst these investments was a purchase order of $1.2 billion value of SOL via his pocket buying and selling agency, Alameda Analysis.

Moreover, Alameda reportedly held $1.15 billion on this token after which started promoting it, together with different altcoins, to forestall the collapse of FTX’s native token, FTT.