Pantera Capital Chief: Ethereum and XRP to Overtake Bitcoin

Dan Morehead, the CEO of Pantera Capital, a cryptocurrency hedge fund, in the Real Vision Finance podcast Real Vision Finance, confirmed his optimistic outlook for Bitcoin in the coming months, noting brighter prospects for Ethereum and XRP.

In the interview he forecast that, over time, the number of networks used by cryptocurrencies would be in the single digits.

“We invest in Bitcoin, Ethereum and XRP… Now I really think that other cryptocurrencies will surpass digital gold. We are in an active bull market phase, so the smaller the capitalization, the higher the beta. Bitcoin is now accounting for 62% of the cryptocurrency market capitalization. Two years ago at the peak the figure reached 70%. I believe its dominance will drift downward as it grows, because altcoins will outrun it,” Morehead commented.

The Pantera Capital chief attributed his preference for Ethereum to the launch of Phase Zero of the second version of the protocol, which will ultimately raise network efficiency.

In XRP, he is drawn to the accumulation of potential for cross-border movement of funds. He added that the US-Mexico payment corridor, worth $25 billion, accounts for 10% of Ripple’s solutions.

Earlier in August, Dan Morehead confirmed his forecast that Bitcoin would reach $100,000 within two years.

In the night of December 17, the price of Bitcoin reached a new all-time high above $22,000.

According to the company’s July report, the Pantera Bitcoin Fund’s seven-year return stood at over 15,000%.

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