The founder and chief government officer of Pantera Capital says that traders can anticipate altcoins to outperform Bitcoin (BTC) in the long run.
In a latest version of Pantera’s Blockchain Letter, the top of the digital asset administration agency outlines Dan Morehead’s key quotes from the SALT 2021 convention in New York. Throughout the convention, Morehead stated that regardless that his firm has significantly profited from BTC, he emphasised that almost all future crypto good points will come from altcoin investments.
“My perspective is: Bitcoin has been superb – Pantera Bitcoin Fund is up 67,000% since inception. Nonetheless, I believe the vast majority of future good points will probably be from tokens exterior of Bitcoin. I do know that sounds heretical to some folks right here, however that’s my skilled opinion.”
Morehead compares the rise of Bitcoin and its rivals to that of the tech trade increase in the course of the late Nineteen Nineties.
“It’s like saying in 1998 that [the] majority of future tech good points would come from exterior Microsoft.
On the time, Microsoft was price $218 billion, Apple $3.5 billion, Amazon was $2.2 billion. Google and Fb have been zero – they didn’t even exist. Within the years since Microsoft did nice – it went up 10x. Nonetheless, 80% of the tech good points in these 5 shares got here from exterior Microsoft.
That’s the view I’ve right here – I believe BTC goes to go up a ton – like 10x. It’s an awesome funding…[but] I believe the broader portfolio goes to outperform.”
At time of writing, BTC has a market cap of $1.156 trillion whereas all altcoins mixed have a market cap of $1.327 trillion, in accordance with CoinMarketCap.
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