I have Binance BNB tokens also which I acquired back in 2017-2018. BNB has consistently outperformed Bitcoin, even over the past year. That destroys your Bitcoin is superior to "ALTS" argument. Go look at the charts.
The BTC POW model is doomed. You have a finite supply, and the miner rewards are cut in half every 4 years. That is unsustainable in 12-16 years or maybe sooner.
Miners are already starting to declare bankruptcy. POS is a better system for long-term viability.
The fact than you can cite one alt (I am sure there are more examples) as having out performed BTC from the time of that alts launch, does not change the fact that BTC outperforms almost all alts in the long term, and that almost all alts gravitate to zero over time. (That should be obvious, given that the number of alts which can be created are infinite).
Further, BNB is more analogous to a share in a business, than an alt to Bitcoin. The market is gradually understanding that, and this will over time drive its fundamental value, just like fundamentals drive the price of a share of Coinbase. So I would not really consider it an alt at all. An unregistered security backed by a blockchain token would be a more accurate phrase.
BTC miners going bankrupt is irrelevant to the price of BTC. We see miners in all industries over leveraging, then being hit by downward cycles, then things pick up and mining investment cycle repeats. We see it with gold, silver, copper, iron, aluminum, lithium. Its a natural part of the industry. When rewards half after a halvening, some BTC miners inevitably are not prepared, over leveraged, or undercapitalized, and will drop out. Happens every cycle. both with BTC and with physical commodities.
Over time, those miners who cannot remain profitable close up shop. Its a continuous battle towards better equipment, better efficiency, lower cost of energy, etc. At some point, price moves up and those who have survived make big profits. This encourages new entrants to come in, and for a while there is enough for all to profit and do well, and then eventually investment hits a peak, mining profitability his a low, and the process repeats. So with BTC, no concerns at all. Until the last sat is mined, there will always be an incentive to mine, and to beat others to the next satoshi. Pure capitalism protects Bitcoin, which is the beauty of Satoshi's invention.
As BTC adoption grows, miners will also make more from transaction fees. Secondly, it survival of the fittest. Those who can get access to better rigs, and lower energy cost, wil thrives over those who don't. So, until BTC price rises, we will see a focus on operational efficiency (and those companies will thrive most when the equilibrium moves back into profit again).
Remember, BTC also has a difficulty adjustment. So those remaining will see greater returns as hash rate adjusts in the favour. Again part of the beauty and genius of BTC, operating as an adapting organism. Further, if/when BTC price rises, those miners who have survived the winter get to gorge on the ripe fruit of valuable BTCs as their prices rise. In fact it is probably a matter of months before that swap occurs, leading to a period of juicy profitability for those miners who held out over the winter. Indeed, this has been exactly what has happened for every cycle since BTC has been in existence. And as you know, historically despite repeated halvings, BTCs hash rate has always risen over time.
