Multicoin Capital Fund: EOS and Ethereum are the best …
Multicoin Capital: EOS and Ethereum are the best, Litecoin has “no reason to exist” and XRP is a security
American crypto hedge fund Multicoin Capital, sponsored by Mark Andreessen, Chris Dixon, Union Square Ventures and other venture capitalists, is betting on EOS and Ethereum, but doubts the prospects of Litecoin and XRP.
Multicoin co-founder Kyle Samani told Fortune that his company continues to support EOS despite skepticism over the project’s mainnet launch..
“Now we keep our position and do not sell anything. The EOS launch didn’t go as smoothly as we hoped. All things considered, I think it wasn’t as bad as people say. I agree that the launch didn’t go as well as it should have given the resources they had, so they made mistakes and stumbled. But in the long term, these errors are not of fundamental importance, “he said..
According to various sources, Samani holds a large position at EOS. He compares the challenges of launching EOS to what happened to Ethereum in its early days: “People seem to have forgotten that Ethereum had no tools or infrastructure at all when it launched in 2015. People talked about it all the time, and using the system was quite problematic for a while. Everything went better with EOS “.
At the same time, Samani does not diminish the role of Ethereum in the cryptocurrency space: “If you ask me to choose one token today and return to it in 10 years, I will take Ethereum.”.
Samani’s bullish sentiment does not apply to Litecoin. In his opinion, there is simply no place for this cryptocurrency on the market. “Litecoin has no reason to exist. This is a fork of Bitcoin. He just lies dead weight. The only investment reason I’ve heard about Litecoin is that it is a testnet for Bitcoin. But this is not an investment argument, “he explained..
Speaking about the American startup Ripple’s own cryptocurrency, Samani stated that he is fully confident that XRP is a security. “It’s pretty obvious that Ripple is a security. We don’t know when this will be announced, but the catalysts appear to have gone from Ripple. I believe that if the SEC officially names Ripple as a security, all exchanges will stop trading Ripple. If this happens, liquidity will evaporate and the price will collapse “.
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