Cryptocurrency expert Brian Kelly in a recent interview mentioned his reasons why Ethereum would be better than bitcoin whose price has been tumbling over the last few months.
Bitcoin price has been consistently taking a downfall after it had reached December highs of around $19,500. The cryptocurrency now trades around $6400.
In the light of the bitcoin price staggering, Brian Kelly, founder and CEO of BKCM LLC, an investment firm focused on digital currencies, said there are other digital coins that investors might want to consider.
“Just remember, Myspace existed well before Facebook. Tech disrupts itself. So, just because you have bitcoin today doesn’t mean in 10 or 15 years bitcoin is going to be the leader.”
In fact, he said the next big thing in crypto might be ETH, a decentralized blockchain platform.
“Relative value-wise, ethereum has been trading a little bit better than bitcoin. I would overweight ethereum at this point.”
Kelly pointed out that after the U.S. Securities and Exchange Commission declared that ethereum is not classified as a security, the president of Cboe Global Markets said that was also a hurdle for launching ethereum futures. Kelly said,
“So one would think, perhaps, ethereum futures are not far off. They already have an ethereum index.”
The augur platform, one of the oldest ICOs, has been in development for about two or three years, Kelly said.
“It’s a decentralized prediction market. What’s interesting about this [is that] this will probably be one of the biggest decentralized apps on top of ethereum.”
“If [augur] doesn’t slow the system down, that can generally be a positive for ETH,”
Kelly said ethereum is upgrading. He made a statement that in the next couple of months this will start to take effect and have an impact on ETH.
“They [will] go from hardware mining, proof of work, to something called ‘proof of stake,’ which is similar to a software mining,”
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