Dan Morehead, CEO of Pantera Capital, one of the institutional crypto money investment companies, made striking statements in an interview with Real Vision. Morehead stated that he believes that the leading crypto currency Bitcoin (BTC) will continue its upward trend in the coming months, but some altcoins will outperform BTC.
Morehead, who recommended BTC to its customers when the price of Bitcoin was around $ 104 in August 2013:
“Being extremist when it comes to currencies is simple and some people think that one is against all. I think there will be fewer than 10 very important blockchains in the long run. There will be no 2000 chains, but not just one. Considering these reasons, we continue to invest in Bitcoin, Ethereum and XRP. When we look at the fact, I think that other cryptocurrencies can perform better than Bitcoin. Bitcoin will show a sharp rise, but others may outperform that. Also, albeit partially, Bitcoin is a cryptocurrency that is mega-sized according to market conditions. In other words, it does not move up and down like cryptocurrencies with small market values. I think we are in a big bull market right now, so high beta assets that are small in market value will perform better. Leading Bitcoin accounts for 62 percent of the cryptocurrency market. I believe that as BTC rises and other cryptocurrencies rise even more, BTC’s market share will go down. ”
The CEO explains why he is interested in and trusted in Ethereum and XRP, which are among the second and third largest cryptocurrencies in terms of crypto market value:
“The most important development in Ethereum is the launch of ETH 2.0 in the market and the transition from proof of work to a much better system, proof of stake, which clearly leads to waste. XRP, on the other hand, accumulates the cross-border money movement that has long been the language of everyone in the crypto industry. Blockchain-based cross-border money movement from the US to Mexico at the moment is significantly closer to about 10 percent of the $ 25 billion corridor. This is therefore a proud success for our industry, a use case that makes people’s lives significantly better. ”
In addition, Morehead asked Polkadot (DOT), which was developed by the co-founder of Ethereum, Gavin Wood, if you were to choose a single cryptocurrency in the next 12 months, and explained:
“If I had to pick one, it would be Polkadot. Approximately 10 percent of the value of Polkadot Ethereum. We can say that the chance of being a suitable competitor is more than 10 percent. We’re really excited about Polkadot. ”
Disclaimer: What is written here is not an investment advice. Crypto money investments are high-risk investments. Each investment decision is under the responsibility of the individuals. Coinfinans and the author of this content cannot be held responsible for personal investment decisions.