The founder and chief govt officer of Pantera Capital says that traders can anticipate altcoins to outperform Bitcoin (BTC) in the long run.
In a current 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. In the course of the convention, Morehead mentioned that though his firm has significantly profited from BTC, he emphasised that the majority future crypto positive aspects will come from altcoin investments.
“My perspective is: Bitcoin has been wonderful – Pantera Bitcoin Fund is up 67,000% since inception. Nevertheless, I believe nearly all of future positive aspects can 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 growth in the course of the late Nineties.
“It’s like saying in 1998 that [the] majority of future tech positive aspects 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 had been zero – they didn’t even exist. Within the years since Microsoft did nice – it went up 10x. Nevertheless, 80% of the tech positive aspects 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 a terrific 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, based on CoinMarketCap.
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