Sam Bankman-Fried: Solana Has Every Chance of Becoming the Next Bitcoin

Thanks to its scalability, Solana could not only become a leading blockchain protocol but also turn into the next Ethereum or Bitcoin. This was stated by Sam Bankman-Fried, head of the cryptocurrency exchange FTX, in an interview with Kitco News.

“I’m optimistic about Solana. It has every chance to do this, which I think is very interesting,” he added.

Bankman-Fried also noted the Avalanche blockchain, whose native token last week hit an all-time high. He stressed that these are not the only projects capable of surpassing the perennial leaders in the digital-asset market cap.

According to the head of FTX, over the next two years he expects to see “significant institutional adoption of cryptocurrencies.” In particular, ETH could gain broad uptake among this class of investors, even if the underlying cryptocurrency protocol does not achieve significant success.

Bankman-Fried did not rule out a new crypto winter, but noted that successful projects would not disappear even in conditions similar to 2018.

“The best survive are projects with a large base of truly loyal supporters and meaningful use cases. I think hype-driven projects often suffer the most,” explained the head of FTX.

He also touched on the Squid Game project (SQUID), whose investors lost more than $19 million. In October, the SQUID price surged rapidly in a short period, reaching $2,856 at one point, and in early November plunged sharply.

In Bankman-Fried’s view, such dubious projects will always exist in the market. He highlighted two “red flags” that should have warned investors against impulsive bets: the absence of a direct link to Netflix and the anonymity of the creators.

Earlier, Stripe cofounder and president John Collison said that his attention was drawn to Solana and the Lightning Network.

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