The reason Bitcoin price stalled, and the crypto to dethrone BTC - Shane Molidor
There is one crypto that can dethrone Bitcoin in market capitalization, and that is Ethereum, said Shane Molidor, global head of business development for AscendEX.
Speaking to David Lin, anchor for Kitco News, Molidor said that “I don’t think that the emergence of stablecoins will necessarily dethrone Bitcoin. However, we do see a lot of other crypto assets that could also function as a store of value and then have compelling utility.”
Molidor added that “Bitcoin started its life cycle as a mechanism for peer-to-peer electronic payment, and it’s arguably failed on that use case. However, the functions of Bitcoin: immutability, scarcity, durability, etc. do exist with other cryptocurrencies, which also then have compelling fundamental values, such as Ethereum, which is why I think that there are pundits who would argue the ‘flippening’ will occur, where the market capitalization of Ethereum overtakes that of Bitcoin.”
For Molidor’s year-end Bitcoin price forecast, watch the video above. Follow David Lin on Twitter: @davidlin_TV (https://twitter.com/davidlin_TV).