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Bitcoin is cool, but altcoins will surpass it in the future

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The founder and CEO of Pantera Capital says investors can expect altcoins to outperform Bitcoin (BTC) in the long run.

In a recent issue of the Pantera Blockchain Letter, the head of a digital asset management firm outlines Dan Morehead’s key quotes from the SALT 2021 conference in New York. During the conference, Morehead said that although his company has made a large profit from BTC, he stressed that most of the future income from cryptocurrencies will be generated through investments in altcoins.

“My point of view is this: Bitcoin has been amazing – the Pantera Bitcoin Fund has grown by 67,000% since its inception. However, I think that most of the future profits will be due to tokens outside of Bitcoin. I know it sounds heretical to some here, but that’s my professional opinion.”

Morehead compares the growth of Bitcoin and its competitors to the growth of the technology industry in the late 1990s.

“It’s like saying in 1998 that most of the future technological advances will not come from Microsoft.

At that time, Microsoft was worth $218 billion, Apple – $3.5 billion, Amazon – $2.2 billion. Google and Facebook were zero –they didn’t even exist. In the years since Microsoft has succeeded, it has grown 10 times. However, 80% of the technological growth of these five stocks did not come from outside Microsoft.

Here’s my opinion – I think BTC will grow by a ton – about 10 times. This is a great investment… [но] I think a broader portfolio would be better.”

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