Macro Expert Raoul Pal Explains Why He’s More Bullish on Ethereum (ETH) Than Bitcoin (BTC)
Real Vision CEO and macro guru Raoul Pal believes the leading smart contract platform Ethereum (ETH) is likely to outperform Bitcoin (BTC) over the long term.
In a new interview on Crypto Banter, Pal says that Ethereum has found a way to outperform BTC in recent years, despite the top crypto asset by market cap surpassing ETH in total trading volume and number of active wallets.
“If you think about Bitcoin, Bitcoin exchanges more value than Ethereum every week. Ethereum has many transactions. Transactions are a red herring. It is the total value and the number of active wallets and Bitcoin beats both.
However, if you look at Ethereum, the change in values, the rates of change of these two values in Ethereum are higher, which is why Ethereum has outperformed Bitcoin in recent years, and I found it really useful. It shows what the price is, and the 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 eventually outperform the crypto king as well.
“If you believe the future is in technology, in blockchain technology, then this entire digital asset space should surpass safe haven. That’s how things work. It always works that way and hence there is a higher beta.
If you’re in an exponential uptrend because you’re in a network adoption model for the whole space, not just Bitcoin, then it should outperform over time. As simple as that.
It’s not a value statement about “I don’t like bitcoin because X and I prefer Ethereum Y.” It’s all about network adoption models. Once you get that, clear your mind of all the narratives stuck in the various buckets.”
At the time of writing, Bitcoin is trading at $29,069 while Ethereum is changing hands at $1,786.
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