Wall Street investor and veteran Daniel Strahman believes that bitcoin has yet to prove its undisputed leadership in the cryptocurrency industry.
Daniel Strachman noted that the cryptocurrency industry is still in its early stages, citing baseball terms as an analogy. Anything can happen, he said:
“We’re only in the second inning of cryptocurrencies. And now it looks like Bitcoin is the leader, but that doesn’t mean anything – the Red Sox team has also collapsed. It all depends on the reaction of the market and investors. Many people say that ETH is superior to BTC, and in many ways it is. We need to play a few more innings and see what happens. ”
Technology has evolved a lot since the inception of Bitcoin. Thousands of new cryptocurrencies have appeared, and some of them are indeed more technological and convenient compared to Bitcoin. However, in terms of capitalization, the first cryptocurrency remains the market leader. Many people call BTC digital gold and the ideal asset for storing wealth.
“Perhaps one or two assets can outperform Bitcoin. If they are applied in many places, the market and investors will accept them, ”the Wall Street veteran said.
At the same time, Strahman emphasized that the cryptocurrency industry itself is entrenched in the market and will remain for a long time. And the leadership of a particular cryptocurrency is not so important – market leaders are constantly changing, and this is a natural process.
Note that according to a CNBC poll, one in ten Americans invests in cryptocurrencies.
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