Autonomous Partners CEO warned of the risks of Bitcoin maximalism
Arianna Simpson, CEO of blockchain and cryptocurrency-focused investment fund Autonomous Partners, believes that a total rejection of alternative digital assets in favor of Bitcoin may not be the most optimal strategy..
“It seems that the general mood of the cryptocurrency community is now directed towards Bitcoin maximalism,” she writes. – BTC has clearly and by far surpassed most other crypto assets since the beginning of the year. The expectation that this will last forever (or that storing bitcoin is the right move) seems foolish to me. “.
This year, in terms of relative growth, bitcoin really turned out to be one of the most successful assets in the top 100, behind only such altcoins as Chainlink, Binance Coin, Ren and Huobi Token. Others rose in dollars, but lost against bitcoin. Ethereum and XRP, for example, are still trading 80% below their historic highs. Analysts like Peter Brandt draw parallels between developments in the cryptocurrency market and the collapse of the dotcom bubble in the early 2000s..
Simpson does not share their opinion.
“Those who have been in this space for many years should remember that this is by no means the first swing back and forth – in 2017, Bitcoin suddenly became old news amid shining new Tier 1 technologies that were about to take over the world,” says The Simpson. – In fact, for many, ETH turned out to be a better investment than BTC (even with the correction in 2018!). Of course, bitcoin remains king, but to write off everything else is stupid. “.
Earlier, partner of Placeholder VC Christopher Berniske expressed the opinion that Ethereum may now be in the same position as Bitcoin was in 2015, and has every chance of repeating the growth of the leading cryptocurrency that occurred over the next two years..
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