Dan Morehead said this in a recent interview with Thinking Crypto. In the course of the conversation, Pantera CEO stated that Ripple, the blockchain payment firm that oversees the distribution of XRP, has been a productive member of the payment industry over the years.
Morehead also averred that XRP and ETH or other cryptocurrencies are not really battling against each other, but against fiat currencies to create enough room for digital currencies to thrive.
“I think Ripple has done a great job. They are one of the big enterprises in our business and they have hundreds of engineers building a lot of code and shipping code. And they’re doing it in a little bit of a different way.
“I know there’s a lot of purists in our industry that get almost religious about, oh, it’s not totally decentralized, or it’s not whatever. It’s the same thing with central bank coins. They’re not decentralized but we’ll need that too, right? I see a world where we have eight or ten really important blockchains ten years from now, and XRP is going to be one of them.
“I don’t have the view a lot of people do in our space… like there’s only one and only true heaven and it has to be whatever it is, Ether or Bitcoin or whatever it is. They do different things and it’s kind of like in the early 90’s being a Yahoo! maximalist.
“Yeah, Yahoo is good, but there were 30 really important companies and a portfolio should have had a little bit of all those. And that’s the way I feel about cryptocurrencies. Each one of the eight or ten that are going to exist in ten years are going to do its own thing.
“They’re competing with trillions of dollar markets like gold, cross-border money movement, remittance, wealth storage, all that stuff. So there’s plenty of opportunity. And that’s another thing I always like to remind people, is it’s not like XRP and ETH are fighting each other. We’re fighting the Argentine peso. To put it another way. We’re fighting these paper currencies and there’s plenty of room for each of the cryptos to work.”