BTC Price Drops Sharply, CEO Of Avalanche (AVAX) Says Bitcoin's Position Will Be Replaced By Crypto With Stronger Projects

Bitcoin's position has the potential to be shifted by other cryptocurrencies. (Unsplash)

JAKARTA – Bitcoin (BTC) as the world's number one cryptocurrency is said to have difficulty maintaining its position. In fact, Bitcoin has the potential to be replaced by one of the cryptocurrencies that has a stronger project and innovation.

The founder and CEO of Avalanche (AVAX), Kevin Sekniqi expressed his views on this matter. He admits that it is difficult to imagine Bitcoin can survive in its current position as the number one cryptocurrency.

Furthermore, Sekniqi conveyed his predictions regarding this to his Twitter account followers. The CEO of Avalanche stated that sometime in the next two decades, the top crypto asset by market capitalization will most likely be surpassed by other cryptocurrencies that have a better ecosystem than BTC.

“It is strange enough to believe in the theory that in 15-20 years, despite the lack of innovation or new uses, Bitcoin will still be in the #1 position. It seems quite reasonable to conclude that an ecosystem that innovates faster will eventually outperform Bitcoin", said Senior, quoted from DailyHodl, May 10, 2022.

“Gold doesn't need to innovate, that's because there are only a limited number of rare elements in the periodic table. Physics doesn't innovate, I guess", added the AVAX Co-Founder.

Even so, Sekniqi did not mention one crypto asset that has the potential to shift Bitcoin's position, which has a stronger ecosystem and better innovation than BTC.

Besides Sekniqi, crypto analyst Nicholas Merten also doubts Bitcoin can stay at the top. Frankly, Merten told subscribers of his YouTube channel that Ethereum has the potential to surpass Bitcoin.

There are currently more than ten thousand cryptocurrencies, each of which has a variety of projects and uses. Although there are not a few scam tokens and rug pulls that often steal investors' funds.