The Co-founder and CEO of Real Vision, Raoul Pal, took to Twitter and said, Etheruem since its inception has performed better than Bitcoin by 250%. He also shared a chart of Ether’s price relative to BTC.
He also opines, all the altcoins which have achieved ecosystem network effects, i.e active wallets, developers, and apps, will outperform Bitcoin in the future.
At the inception, Ethereum was at approximately 0.006 BTC on Aug 10, 2015. Now it is at 0.0359 BTC. According to Tradingview.
Raoul Pal, with the tweet, also called an early victory of his bet with podcaster Peter McCormack, who had challenged Pal to bet on Etheruem price to rise closer to Bitcoin after a year.
Bitcoiners jump on defense
Bitcoin proponent Craig Wright, Arthur Van Pelt expressed their dissent to Pal’s interpretation and prediction.
His reply to the tweet was that Etheruem has outstayed its early hype, and it’s been down 77% in a long-term decline. He calls them the “cold hard facts”.
Raoul responded saying “Since this halving cycle started, it’s up over 100%. Cold hard facts.”
Another Bitcoin maximalist, Brad Mills found fault with the analogy itself, claiming that the reasoning behind it is faulty since it does not compare the currencies since their inception.
Willy Woo, an On-Chain analyst, opined that Ethereum’s price is merely of the initial hype cycle playing out. and ETH has no future price growth potential. He clarified that a first four-year cycle is its highest climber and that ETH would possibly only hover around Bitcoin’s price from now and it’s time to pass on.