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Venture capitalist: Ethereum to bypass Bitcoin by capitalisation till the end of 2017

Fred Wilson, a well-known venture capitalist who has invested in Twitter, Facebook, Amazon and Uber, believes that the Ethereum capitalisation will overtake Bitcoin's till the end of 2017.

“The whole cryptocurrency sector is frothy right now. I’m very bullish on it long term,” Wilson said in an interview to Bloomberg.

According to him, “crypto tech will emerge as more of an important piece of how we use technology both as individuals and as companies and I think that’s one of the mega trends we all need to be aware of.”

Fred Wilson is a managing partner in Union Square Ventures. He is also a well-known blogger. He publishes daily posts on his blog called AVC, dedicated to venture investments and innovative technologies.

Currently, the Bitcoin capitalisation is threefold higher than Ethereum's one. According to CoinMarketCap, the market capitalisation of all mined Bitcoins is $31.55 billion, while the total capitalisation of Ethers is slightly higher than $10 billion. As for the exchange rate growth, Ethereum is increasing faster than Bitcoin. Ether has grown thirteenfold for the year to date, from $7.98 to $107.73. Bitcoin has grown twofold since the beginning of 2017, jumping from $963.66 to $1920.7.

According to CoinMarketCap rankings, Bitcoin has the biggest capitalisation, accounting for almost a half of the world’s total cryptocurrencies capitalisation. Ethereum occupies third place in the rankings. Second place is occupied by Ripple, a decentralised payment system built upon a distributed open source protocol. In March, Ripple announced its partnership with the Bank of Tokyo-Mitsubishi UFJ (BTMU), the biggest bank of Japan.

Source: coinfox.info

  • May 21, 2017 10:40 AM MSK
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