Ethereum Co-Founder Reveals Why He Sees Potential in Cardano (ADA) and Polkadot (DOT)
AI Trading

FD7 Ventures, a global cryptocurrency investment fund based in Dubai with $1 billion under management, has some hours ago announced its plan to sell off $750 million worth of Bitcoin (BTC) within the next 30 days to increase its positions in Cardano (ADA) and Polkadot (DOT).

Why Selling Bitcoin (BTC) For Cardano (ADA) and Polkadot (DOT)

According to the report, the company thinks selling the flagship cryptocurrency, Bitcoin (BTC), for Cardano (ADA) and Polkadot (DOT) will better serve the needs of its investors who are interested in diversifying their portfolios in the emerging crypto industry.

Read Also: Cardano Treasury Hits $189 Million, Now More than Ethereum Treasury; ADA Is Coming To Celsius

Reacting to the decision, the Managing Director at FD7 Ventures, Prakash Chand said:

AI Trading

“Aside from the fact that Bitcoin was first to market and society has given it meaning as a store of value, I think Bitcoin is actually pretty useless. Projects such as Cardano, Polkadot and Ethereum are the foundation of the new internet and Web 3.0.

“I’ve been lucky enough to spend lots time with the brightest minds in crypto and I’m willing to bet that each of Ethereum, Cardano and Polkadot will be more valuable than Bitcoin within the next few years.”

FD7 Ventures has already started the process of converting their Bitcoin (BTC) to Cardano (ADA) and Polkadot (DOT) and expects to complete the conversion transactions by mid-to-end of March.

Charles Hoskinson Says Ethereum, Cardano, and Polkadot Can Co-Exist

According to the CEO of IOG, Charles Hoskinson, who is the founder of Cardano (ADA), smart contract platforms can co-exist in the same market.

In a new interview, Hoskinson said, “I think there’s definitely room in the marketplace for several strong protocols.”

Read Also: Cardano (ADA) Will Outperform Ethereum 2.0 in DeFi Space –Charles Hoskinson

To back his points, he cited the example of several tech giants that are currently co-existing, such as Google, Apple, Microsoft, among others. He said that it’s simply possible for Ethereum, Cardano, Polkadot, and others to function successfully in the same marketplace.

Follow us on Twitter, Facebook, Telegram, and Download Our Android App

AI Trading produces top quality content for crypto companies. We provide brand exposure for hundreds of companies. All of our clients appreciate our services. If you have any questions you may contact us. Cryptocurrencies and Digital tokens are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors and the views expressed in them do not reflect the views of this website. Herald Sheets is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Read full terms and conditions / disclaimer.

Solomon Odunayo

By Solomon Odunayo

Solomon Odunayo is an accomplished blockchain and cryptocurrency expert at Herald Sheets, known for his in-depth analysis and engaging articles that cater to both beginners and experienced readers. With a degree in Computer Science from the University of Lagos, Solomon leverages his technical background and keen understanding of the crypto space to provide readers with valuable insights and up-to-date news. His passion for innovation and commitment to staying current with industry developments make him a trusted voice in the digital currency community.