Besides Bitcoin, which altcoins are “very important” for high returns?

Since the spotlight began, altcoins have been constantly compared to bitcoin. Given the remarkably rapidly changing market dynamics, the Bitcoin versus Altcoin debate is unlikely to ever end.

In one interview Recently, Pantera Capital CEO Dan Morehead revealed to Bloomberg a strategy to make big profits from the crypto market.

“A really important possibility is, if you’re just long Bitcoin, it’s like Long Yahoo in the 90s. There were 30 other really important companies to invest in in the 90s and now. There are so many different ones Products to invest in. “

Altcoins like ETH and DOT have significantly outperformed Bitcoin recently. Indeed, at the time of writing, aloud Data by Messari, the annual return for BTC is 12.64%, while the figure for ETH and DOT is 164.25% and 88.09%, respectively.

Performance of the asset classes from January 1, 2020 to date | Source: Dan Morehead

Even ETH and DOT outperformed BTC between Jan 1, 2020 and now. At the time of writing, ETH and DOT are showing returns of 1.449% and 464%, respectively, while BTC is 375%. Despite falling returns, it should be noted that Bitcoin achieves significantly better results compared to traditional assets.

Emphasizing this, Morehead says:

“During this time of unprecedented monetary and financial expansion, cryptocurrencies have by far outperformed other asset classes.”

In the interview, he further claimed that Pantera’s hedge fund, which normally trades liquid tokens, is up 240% this year, a much larger number than BTC has delivered.

Morehead also announced that his company not only holds Bitcoin, but also invests in ETH and DOT.

“ETH is the second largest investment. It’s very important … We are also big investors in DOT, a newer version of ETH. “

However, at the time of writing, Bitcoin’s (1173) social media volume significantly outperforms ETH (474) and DOT (43), so Mood. In the end, BTC is still being chosen by people for long-term use and the CEO also confirmed that the ongoing correction phase is “the best time” to buy King Coin because it is relatively cheap.

In addition, Morehead also claims that in a year the price of BTC will be 213% higher and by 2031 the largest cryptocurrency will account for 20% of global purchasing power. Essentially, it means that Bitcoin’s market cap is around $ 250 trillion and will trade over $ 12.5 million per BTC by 2031.

Minh Anh

According to AMBCrypto

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page