Real Vision co-founder and CEO Raoul Pal has sparked a spirited debate after predicting that Ethereum and other coins with “network effects” will outperform Bitcoin over time.
Pal shared a chart of Ether’s price relative to BTC since Aug. 7, 2015 — six years after Bitcoin was created — showing that “ETH has outperformed BTC by 250%.”
Fascinating to see that since inception ETH has outperformed BTC by 250%. It only fell below its initial price in BTC for the first 5 months of its existence in 2015.
Let that put rest to the idea that all other tokens trend towards zero in BTC terms. pic.twitter.com/ulCpsjG8up
— Raoul Pal (@RaoulGMI) April 7, 2021
According to TradingView’s Bittrex chart, ETH began trading for roughly 0.006 BTC on Aug 10, 2015. It is currently sitting at 0.0359 BTC.
ETH price in terms of BTC. Source: Trading View
Bitcoiners weren’t pleased with Pal’s interpretation of events, with Craig Wright antagonist, Arthur van Pelt, arguing Ethereum has outlived its early hype