Investor and entrepreneur Roger Ver was one of the early investors in Bitcoin
, and he made a great deal of money from the blossoming digital currency during its early days. He is an important figure in the crypto world and many investors look to him for advice. He also owns the domain Bitcoin.com, and has been an active proponent for the digital currency for many years.
However, he has become less enamoured with Bitcoin in recent months and has been noted to prefer its hard fork Bitcoin Cash. He has also spoken out to praise other digital coin systems, specifically Ethereum and its native coin Ether, as he becomes increasingly critical of the Bitcoin asset. Ver has investments in a wide number of cryptocurrencies, including the up and coming Ripple asset.
Ver predicts that Ethereum
could overtake Bitcoin in the near future. He notes that Ethereum only needs to double in price once more to reach the same market cap Bitcoin currently trades at. Of course, this presumes that Bitcoin will not rise again any time soon. Right now, Ethereum is trading at $719.17 with a market cap of $70.57 billion, while Bitcoin has a unit price of $9,440.25 with a listed market cap of around $129 billion.
Ethereum does have some notable advantages over Bitcoin. It offers cheaper transactions and faster processing speeds, allowing for more activity on the blockchain at any given time. Ethereum has been rumoured to be switching to a proof-of-stake system, which is sure to attract security-conscious investors and those seeking to earn simply by holding the currency. For Ver's predictions to come true, Ethereum will need to make significant gains at the same time as Bitcoin going through a major price fall.
Despite Ver's predictions, many cryptocurrency
insiders are sceptical of the investor's motives. They feel that Bitcoin has the potential to stay at the top of the market for a great deal longer, and that it is due another significant price rise which will leave competitors like Ethereum, Litecoin and Ripple in its shadow.