Mark Cuban, one of the biggest crypto billionaires, thinks that Bitcoin (BTC)’s reign in the crypto world is over. He thinks Bitcoin can be surpassed by two altcoins. These are Polygon (MATIC) and Ethereum (ETH). As Kriptokoin.com, we are citing Mark Cuban’s crypto money explanations…
Mark Cuban, ‘Bitcoin reign is over’
CEO Mark Cuban, who made his fortune through Bitcoin in the crypto money world, said that Bitcoin is two years old. He thinks it will be surpassed by altcoins. For Cuban, BTC was important and paved the way for other cryptocurrencies, but now he thinks the market will return to projects focused on smart contracts. Cuban noted that institutional investors are already keeping their eyes on Polygon (MATIC) and Ethereum (ETH). The billionaire emphasized that the bet on the market is focused on these cryptocurrencies. He also said, “I am accumulating a lot of MATIC and ETH.”
In line with Cuban, FTX.US President Brett Harrison also stated that altcoins based on the proof-of-stake consensus algorithm are attracting the attention of major investors. Ethereum has not yet migrated to the PoS consensus algorithm. But the move from proof-of-work to PoS, which consumes a lot of energy, is getting investors excited. However, Cuba states that while he expects Matic and Ethereum to outperform Bitcoin, the market is changing based on Bitcoin’s movements. That is, he says that if Bitcoin enters a downtrend throughout the year, altcoins will follow BTC as well.
What are the expectations for BTC price?
Meanwhile, DailyFX analyst Tami Da Costa emphasizes that BTC is not an asset that is immune from macroeconomic fluctuations. For this reason, he points out that increasing geopolitical risks may affect the cryptocurrency and make it decline. According to Da Costa, while tensions between Russia and Ukraine are still high, the uncertainty surrounding the conflict and other developments weighed on risk appetite, pushing investors away from Bitcoin and other “risky” securities and into safer assets. The imminent course of the cryptocurrency market, which remains at the forefront of the underlying sentiment, depends on the situation in Ukraine. Because this will also determine the risk appetite. If tensions remain high, the analyst suggests that around $28,000 could be tested.
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