Since its launch in 2009, Bitcoin has so far been the largest crypto asset by market capitalization. Given the thousands of other cryptocurrencies that have emerged over the years, can any of them become bigger than Bitcoin?Bitcoin) In terms of market value?
The managing partner of A&C Advisors LLC said: “We are in the first half of the second round of cryptocurrency. It now looks like BTC will remain at the top, but it’s like the Red Sox that fell apart this year, we just don’t know.” Daniel Strachman told Cointelegraph. Strachman’s experience includes decades of financial work and authoring multiple books. “It comes down to market reaction and investor interest,” he added. “There is a lot of discussion about Eth surpassing BTC. This is reality, but we need to play a few more games to see what happens.”
The encryption industry has gone through multiple market cycles and each cycle is growing. CoinMarketCap lists encrypted assets based on market capitalization, and is a common source of data in the digital asset industry. Crypto assets have achieved huge dollar valuations.Almost all of the top 100 crypto assets on CoinMarketCap carry Valuation of more than 1 billion U.S. dollars-this is a sign of the growth and importance of the crypto industry.
Since the advent of Bitcoin more than ten years ago, technology has developed significantly. Discussions and comments on “flip”—an industry term for another cryptocurrency that exceeds BTC in market value— Surfaced from time to time. What could cause the market value of another crypto asset to exceed Bitcoin?
“The utility of the market and the adoption and interest of investors will push one or two crypto assets to surpass BTC,” Strachman said.
Bitcoin is becoming more and more prominent in the eyes of the mainstream. The asset has a fixed and relatively scarce supply, and a loyal follower of the crypto industry, especially among the people known as “Bitcoin Maximizers” who basically regard BTC as the only crypto that can succeed in the long-term currency.
“The crypto market is an asset class that will continue to exist,” Strahman said when asked about the possibility (or non-existence) of a BTC rollover and the importance of such events. He added:
“It will not disappear. If crypto assets surpass BTC, it will be because of the market power of investor interest and market utility. If you look at the top five companies by market capitalization in 1980, they are Exxon Mobil, General Motors, Mobil Ford and Texaco, today they are Apple, Microsoft, Google, Saudi Aramco and Amazon-things have changed, it doesn’t matter, because of how free global markets operate.”