Real Vision CEO and macro guru Raoul Pal says he believes leading smart contract platform Ethereum (ETH) will likely outperform Bitcoin (BTC) in the long run.
In a new interview on Crypto Banter, Pal says that even though the top crypto asset by market cap beats ETH in total trading volume and number of active wallets, Ethereum has found a way to outperform BTC over the last few years.
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“If you think of Bitcoin, Bitcoin exchanges more value each week than Ethereum does. Ethereum has a lot of transactions. Transactions are a red herring. It’s total value and number of active wallets and Bitcoin beats both.
However, if you look at Ethereum, the change in values, the rates of change in those two values in Ethereum is higher, which is why Ethereum’s been outperforming Bitcoin over the last couple of years, and I found it’s really useful. It shows what price is and price is pretty good.”
When asked if he remains more bullish on Ethereum than Bitcoin, Pal says he still is and that other altcoins should also eventually outperform the king crypto as well.
“If you believe the future is in the technology, in blockchain technology, then this whole digital asset space should outperform the safe haven. That’s just how things work. It always works that way and therefore, there’s a higher beta.
If you’re in an exponential uptrend because you’re in a network adoption model for the entire space, not just for Bitcoin, then it should outperform over time. It’s as simple as that.
It’s not a value statement about, ‘I don’t like Bitcoin because X and I prefer Ethereum for Y.’ It’s all about network adoption models. Once you understand that, you free your mind of all of the narratives that are in the different buckets.”
At time of writing, Bitcoin is trading at $29,069 while Ethereum is changing hands at $1,786.
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