pantera capital ceo reveals why he trusts xrp and eth
the ceo of pantera capital, one of the largest cryptocurrency investment companies, told real vision in an interview that he believes bitcoin will continue its rise in the coming months, but that he thinks some altcoins will outperform it.
morehead, who recommended bitcoin to his clients in august 2013 when the price was only $ 104
it’s easy to be extremist about currencies, and some people think that one is against all of them. i think that in the long term there will be fewer than 10 very important blockchains. there won’t be 2000, but there won’t be just one. that’s why we invest in bitcoin, ethereum and xrp. i actually think other currencies will outperform bitcoin. bitcoin will rise a lot but others may outperform it. and in part, bitcoin is a cryptocurrency with a market capitalization of mega size. cryptocurrencies with small market capitalization do not go up and down as much. i think we are in a big bull market, so high-beta assets that are small in terms of market value will outperform. bitcoin now accounts for 62 percent of its total market value. i think bitcoin’s market share is going to go down as bitcoin goes up and everything else goes up a lot more.”
morehead explains why he trusts ethereum and xrp, the second and third largest cryptocurrencies by market capitalization:
“the most important thing in ethereum is the launch of eth 2.0 and the transition from proof of work, which clearly leads to extravagance, to a much more efficient system, proof of stake. xrp accumulates the cross-border currency movement that everyone in the industry has been talking about for a long time. currently, the blockchain-backed cross-border movement of money from the united states to mexico is close to 10 percent of this crucial $ 25 billion corridor. so a use case that really makes people’s lives better is a huge success for our industry.”
morehead, on the other hand, responded to polkadot (dot), founded by ethereum co-founder gavin wood, when asked which one it would be if he were to choose a single cryptocurrency in the next 12 months:
“if i had to choose one, it would be polkadot. about 10 percent of ethereum’s value. the chance of being a very fit competitor is more than 10 per cent. we’re really excited about polkadot.”