Last week, the CEO of Pantera Capital, Dan Morehead, claimed that XRP will be one of the Cryptos that has potential for long-term sustainability. In an interview with Thinking Crypto, Morehead explained that Ripple’s contribution to the digital currency has been crucial in helping with its growth.
2020 has seemingly been a year to forget for XRP, with it performing significantly worse than the other large-cap Cryptocurrencies, but the asset isn’t necessarily in any trouble.
Pantera Capital’s CEO made a comparison between XRP and central bank-backed Cryptos, saying that despite their centralization, they will still be used universally. He believes that only a small number of digital currencies will be of any significance in a decades time and XRP will be one of those few.
Morehead also claimed that setting your sights on one Cryptocurrency is not the way to go, he states that each of the few currencies that will still be around in 10 years time will each be doing something different, so keeping an eye on all of them will be more beneficial. He also believes that there’s no reason for these cryptocurrencies to fight amongst each other and that there is more than enough of a platform for each one to succeed.
These are the words of the man himself:
“I don’t have the view a lot of people do in our space… like there’s only one and only true heaven and it has to be whatever it is, Ether or Bitcoin or whatever it is. They do different things and it’s kind of like in the early 90’s being a Yahoo! maximalist. Yeah, Yahoo is good, but there were 30 really important companies and a portfolio should have had a little bit of all those. And that’s the way I feel about cryptocurrencies. Each one of the eight or ten that are going to exist in ten years are going to do its own thing.”
Before also saying:
“I always like to remind people, it’s not like XRP and ETH are fighting each other. We’re fighting the Argentine peso. To put it another way. We’re fighting these paper currencies and there’s plenty of room for each of the cryptos to work.”
Do you agree with him? Let us know in the comments below.
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