\n
![](\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTIvM2FkMmVjOTMtYzc5ZC00NTQzLWFiZDEtMTg3NjBkOThkOGRmLmpwZw==.jpg\")
<\/p>\n
\n<\/p>\n
The downfall of FTX and a number of other centralized finance platforms in 2022 reinforces the\u00a0narrative that most of the crypto ecosystem will eventually collapse due to its centralization, with the exception of Bitcoin (BTC<\/a>)\u00a0\u2014 at least according to\u00a0Jeff Booth, a Bitcoin proponent and the author of The Price of Tomorrow<\/em>.<\/p>\n Booth believes centralized crypto platforms such as FTX and Celsius have simply replicated the traditional financial system with all its inherent flaws. <\/p>\n \u201cAll of crypto is trying to rebuild a financial system that we already have based on manipulation and centralization,\u201d said Booth in an exclusive interview with Cointelegraph. <\/p>\n He argues that even decentralized finance platforms \u2014 which seek to provide a peer-to-peer, trustless alternative to traditional financial services \u2014 are bound to fail, as they are being built on protocols that have sacrificed decentralization and security in order to boost scalability. <\/p>\n Bitcoin is the only cryptocurrency that remains decentralized and secure enough to be the base layer of the future financial system, says Booth.<\/p>\n \u201cThe entire crypto ecosystem is going to go to zero besides Bitcoin,\u201d he said.\u00a0<\/p>\n To find out more about why Booth believes Bitcoin may outlive the rest of the crypto ecosystem, check out the\u00a0full interview<\/a> on Cointelegraph\u2019s YouTube channel, and don\u2019t forget to subscribe! <\/p>\n<\/div>\n