Altcoins vs. Bitcoin (BTC)
Pantera Capital was founded in 2013 and is the first venture capital for cryptocurrencies. So Dan Morehead’s words are very important in the industry. At Unitize, a virtual event that focuses on blockchain and cryptocurrencies, Morehead suggested that he and his company support Altcoins to outperform Bitcoin’s growth.
“And we believe that these altcoins, and especially lower-contract smart contract tokens, will outperform Bitcoin in the next few years.”
Morehead assured Pantera still believes the Bitcoin price will explode. But he believes the altcoins will outdo bitcoin.
“We believe Bitcoin will go up a ton, but altcoins will go up even more.”
Bitcoin surged but recovers
He said that Bitcoin’s surge of around 30 percent since the beginning of the year was astounding, but continued to point out that other assets and cryptocurrency investments are growing more aggressively than Bitcoin.“
[Other] things in the cryptocurrency space are much higher, Ethereum is up 80%, and other smaller projects like Augur (REP) and 0x (ZRX) are up 100% year over year.”
It is worth noting that Pantera is currently investing in Augur and 0x, but has not benefited from the initial coin offering (ICO) for Ethereum in 2015.