Bitcoin enthusiasts better be cautious because Real Vision co-founder and CEO Raoul Pal is convinced that Ethereum is the future. To arrive at this conclusion, Pal has cited data that, in his words, “ETH has outperformed BTC by 250%” six years after Bitcoin was created.
“Fascinating to see that since inception, ETH has outperformed BTC by 250%. It only fell below its initial price in BTC for the first five months of its existence in 2015, Pal's tweet argued.
Naturally, his response elicited a strong response from the Bitcoin community with many arguing that Ethereum “has outlived its early hype.” and that it has fallen down by 77% since 2017.
However, Pal quickly jumped back in, noting that since the halving cycle started, the currency has grown over 100%. “Cold, hard facts,” Pal said. However, Bitcoin advocate Brad Mills also offered his opinion which basically argued that the comparison wasn't really fair because the analysis didn't offer a comparison between the currencies since their respective beginnings.
Willy Woo, an on-chain Analyst, jumped in to say that Ethereum's price rise was the initial hype that could wear thin and in fact, ETH has little potential for future price increases. Pal is a known Ethereum supporter and this is good news. Whether he will end up right or wrong; only time will show.
After all, there have been quite a few boisterous claims about Bitcoin's value as well. Some have argued that the currency will hit $1 million in valuation, and others have foretold its demise. None of this has happened with many institutional investors coming to gladly invest.