However, according to the CEO and founder of the financial advisory firm deVere Group Nigel Green – and his new press release – the next 10 years will put altcoins in the spotlight. As Green analyzed, the “crypto revolution” is definitely due to Bitcoin, changing the way money is transacted forever.
However, Green also believes that Bitcoin’s “dominance and influence on the crypto sector” are expected to “drastically reduce” while the value of the broader crypto market will apparently expand by 5,000% along with the rise of the altcoin market, according to his estimates.
As Green stated in the press release:
“[While] I don’t wish to rain on anyone’s parade, I believe that Bitcoin’s influence and dominance of the cryptocurrency sector will drastically reduce in its second decade. This is because as mass adoption of cryptocurrency grows, more and more digital assets will be launched – by organizations in both the private and the public sectors. This will increase competition for Bitcoin and dent its market share.”
Green’s deVere Group now boasts around $10 million in AUM. Based in Dubai and with offices around the world, the CEO and founder is active in the crypto market. When asked about the altcoins that will apparently ‘steal Bitcoin’s show’, he pointed to coins like Ripple (XRP) and Ethereum (ETH), stating:
“I believe that…XRP will be one of the main digital assets to dent Bitcoin’s market share over the next few years due to its apparent focus on integrating with banks and other financial institutions.”
Even if the dominance of Bitcoin fades, Green believes that there will be a clear shift among retail and institutional investors – putting their investments away from fiat money and gearing towards crypto.