Raul Pal: Ethereum and other altcoins will bypass Bitcoin

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The CEO of Real Vision, amid the recent drop in altcoins, continuesbelieve that cryptocurrencies like ether will deprive bitcoin of leadership in the future.

Raoul Pal on the podcast atYouTube said that leading smart contract platform Ethereum could surpass Bitcoin in the long term. Macroeconomist agrees that Bitcoin is the best crypto asset and surpasses Ether in market capitalization, trading volume and number of active wallets. However, according to Pal, Ethereum has already found a way to surpass Bitcoin over the past few years:

“If you are thinking about Bitcoin and buying itevery week there are more than ethers, 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 cost and in the number of active wallets. However, if you look at the development of Ethereum, the growth rate of its wallets and transactions over the past couple of years has far outpaced Bitcoin, and this is really beneficial for the development of the industry. This means that the price of ether with such development is optimal.”

The head of Real Vision said that it is stillmore bullish on Ethereum than Bitcoin. According to him, other major altcoins should also eventually surpass the market leader.

"If you believe that technology is the futureblockchain, then the entire digital asset space should surpass safe havens like Bitcoin. The community is now in an exponential uptrend and is accepting of the entire crypto space, not just Bitcoin. Over time, altcoins should surpass Bitcoin, it’s so obvious,” the expert said. 

It's not about the value of ether andBitcoin, not in the opinion of “I don’t like Bitcoin because it’s X, but I prefer Ethereum, which is Y.” It's all about network adoption models, says the macroeconomist. Once the crypto community understands this, they will be able to free their minds from the narratives that separate Bitcoin from all other cryptocurrencies, Pal argues.

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In May, Dogecoin co-founder Billy Marcus called 95% of crypto assets
garbage.