The CEO of Real Vision, amid the recent drop in altcoins, continues to believe that cryptocurrencies like ether will deprive bitcoin of leadership in the future.
Raoul Pal on YouTube Podcast declaredthat in the long term, the leading smart contract platform Ethereum will be able to surpass Bitcoin. The macroeconomist agrees that bitcoin is the best crypto asset and outperforms ether in terms of market cap, trading volume, and number of active wallets. However, according to Pal, over the past few years, Ethereum has already found a way to outperform Bitcoin:
“If you think about bitcoin and buy it every week more than ether, then naturally there will be more transactions on the network. But the number of transactions is not an objective indicator. After all, bitcoin surpasses ether in value and in the number of active wallets. However, if you look at the evolution of Ethereum, the rate of growth in the number of wallets and transactions in the last couple of years has far outpaced Bitcoin, and this is really beneficial for the development of the industry. This suggests that the price of ether with such a development is optimal.”
The head of Real Vision said he remains more optimistic about Ethereum than Bitcoin. According to him, other large altcoins should also eventually outperform the market leader.
“If you believe that blockchain technology is the future, then the entire digital asset space should outperform a safe haven like bitcoin. The community is now in an exponential uptrend and is accepting the entire crypto space, not just bitcoin. Over time, altcoins should outperform bitcoin, it’s so obvious, ”the expert said.
It’s not about the value of ether and bitcoin, not about the opinion “I don’t like bitcoin because it’s X, but I prefer Ethereum, which is Y”. It’s all about network implementation models, says the macroeconomist. Once the crypto community understands this, they can free their minds from the narratives that separate bitcoin from all other cryptocurrencies, Pal argues.
In May, Dogecoin co-founder Billy Marcus named 95% of crypto assets