Crypto investment firm Pantera Capital’s CEO said he expects Ethereum and XRP to outperform Bitcoin in an extended bull market
Dan Morehead, CEO of cryptocurrency hedge fund Pantera Capital, reiterated his optimistic outlook on Bitcoin in the coming months during the Real Vision Finance podcast, looking at the brightest prospects for Ethereum and XRP.
Will Ethereum and XRP outperform Bitcoin?
In a recent interview, Morehead predicted that, over time, the number of cryptocurrency networks used will be limited to a single value.
“We are investing in Bitcoin, Ethereum and XRP… Now I really think other cryptocurrencies will outperform digital gold. We are in the active phase of a bull market, so the lower the capitalization, the higher the beta. Bitcoin now represents 62% of the market capitalization of cryptocurrencies. Two years ago, at the peak, the figure reached 70%. I believe that his dominance will fall as he rises, since altcoins will overtake him, ”commented Morehead.
The head of Pantera Capital explained his preference for Ethereum when launching the phase zero of the second version of the protocol, which will ultimately increase network efficiency. Dan Morehead is also attracted to XRP for the “accumulation of potential for moving funds across borders”. He added that Ripple’s solutions already account for 10% of the US-Mexico $ 25 billion payment corridor.
Recall that in August, Dan Morehead confirmed his prediction that Bitcoin will reach the $ 100,000 mark in two years.
On December 17, Bitcoin’s price updated its historic high above $ 23,000.
According to the company’s July report, the Pantera Bitcoin Fund’s profitability in seven years was more than 15,000%.