It has been recently revealed that Scott Minerd believes that Bitcoin and Ethereum may be survivors but he predicted that they could be outperformed by a new coin. The Chief Investment Officer of Guggenheim Partners has recently shared his predictions in the latest CNBC interview that a new crypto coin has the potential to overcome Bitcoin and Ethereum. Scott Minerd Predicts new coin will Surpass Bitcoin and Ethereum Drawing the parallels between crypto and the dot-com bubble, Scott Minerd says: “I think Bitcoin and Ethereum will survive, but let’s go back to the internet bubble. AOL was the absolute winner, and nobody questioned that. They were the leaders. Yahoo was the winner. So, then Google came along and other players came along, and so I think what we are going to find is some new crypto that comes along.” In addition to this, Minerd revealed that the new crypto coin will have the potential to overcome the cost issues of mining and other issues with these existing currencies and will be making it superior. As revealed in the report, Minerd likened crypto assets to the Dutch tulip mania in a tweet shared by him on May 20. He said: “As prices rise, tulip bulbs and cryptocurrencies multiply until supply swamps demand at previous market-clearing prices.” Altcoins will end up Being Tulips In a recent interview, Scott clarified that only Bitcoin and few other market-leading cryptocurrencies will be able to survive, but most of the other coins will end up being tulips. Addressing the difference between tulips and Bitcoin, he said: “A lot of people say that I flip-flopped here on Bitcoin. The answer is no. There are still tulips, and there’s still going to be Bitcoin…Bitcoin is the survivor.” Along with this, Minerd claimed that the recent fall in the market was much needed in order to sort some things out and it will take some time to get the damage repaired.
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