Most long-term profits will come from altcoins instead of bitcoin, claims the CEO of Pantera Capital

Founder and CEO Pantera Capital says investors can expect altcoins to outperform Bitcoin in the long run.

One issue Blockchain letter Panteras recently outlined Dan Morehead’s views from the SALT 2021 conference in New York. During the conference, Morehead said that while his company has already made a lot of profits from BTC, the majority of future crypto profits will come from investing in altcoins.

“My opinion is: Bitcoin is amazing – The Pantera Bitcoin Foundation has grown 67,000% since it was founded. However, I think that the majority of future profits will come from tokens other than Bitcoin. I know this sounds ‘strange’ to some, but that’s my professional opinion. “

Morehead compares the rise of Bitcoin and its competitors to the tech industry boom in the late 1990s.

“As was said in 1998, most future technology benefits will come from audiences outside of Microsoft.

Back then, Microsoft was worth $ 218 billion, Apple was worth $ 3.5 billion, and Amazon was worth $ 2.2 billion. Google and Facebook are null – they don’t even exist. Over the years, Microsoft has been the most successful – it has grown tenfold. However, 80% of the technology gains in these five stocks came from people outside of Microsoft.

The same goes for crypto – I think BTC will go up 10x. It’s a great investment … but I think a wider portfolio will produce better results. “

At the time of writing, BTC has a market cap of $ 1,143 trillion while all altcoins combined have a market cap of $ 1,330 trillion, according to CoinMarketCap.

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Annie

According to Dailyhodl

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