Pantera Capital’s founder and CEO says traders can anticipate altcoins to outperform Bitcoin (BTC) over the long run.
In a current concern of Pantera’s Blockchain Letter, head of digital asset administration Dan Morehead outlined key quotes from the SALT 2021 convention in New York. Throughout the convention, Morehead stated that whereas his firm has benefited tremendously from BTC, he harassed that a lot of the future crypto earnings will come from altcoin investments.
“My perspective is: Bitcoin was superb – the Pantera Bitcoin Fund has grown 67,000% since its inception. Nevertheless, I feel the majority of future earnings will come from tokens exterior of Bitcoin. I do know that sounds heretical to some right here, however that is my skilled opinion. «
Morehead compares the rise of Bitcoin and its opponents to the tech trade increase within the late 1990s.
“It is like saying in 1998 that [the] The vast majority of future know-how positive aspects would come from exterior Microsoft.
Again then, Microsoft was price $ 218 billion, Apple was price $ 3.5 billion, and Amazon was price $ 2.2 billion. Google and Fb have been null – they did not even exist. Within the years since Microsoft, it has labored nice – it has elevated 10x. Nevertheless, 80% of the tech positive aspects on these 5 shares got here from exterior Microsoft.
That is the view I’ve right here – I feel BTC goes to go up a ton – about ten occasions that. It is an ideal funding …[but] I feel the broader portfolio will outperform. «
On the time of writing, BTC has a market cap of $ 1.156 trillion whereas all altcoins mixed have a market cap of $ 1.327 trillion, based on CoinMarketCap.
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