Ethereum (ETH) Is the Best Digital Currency, Litecoin (LTC) and Ripple (XRP) Shouldn’t Be In Existence and They Are Securities – Says an Austin-Based Crypto Hedge Fund, Multicoin Capital (Crypto News Today)

A digital currency hedge fund that based in Austin – Multicoin Capital, which has the full support of Union Square Ventures, Chris Dixon, Marc Andreessen of Andreessen Horowitz, and other venture capitals, has very good intent and expectation for Ethereum (ETH) and EOS, but bearish on Ripple (XRP) and Litecoin (LTC).

Kyle Samani’s Comment on EOS Mainnet Launch

Kyle Samani – the co-founder of Multicoin Capital, said that his firm will always stick with EOS, irrespective of the negativity surrounding the launch of its Mainnet. He also said that “they are holding their position for now, they have not sold any. Although the Mainnet launch of EOS didn’t go as smoothly as expected, it didn’t even go as bad as people are saying.”

He also said the launch wasn’t as good as it should be due to the available resources, so the firm made some mistakes. But in the long run, those are rounding mistakes, they do not actually matter.

A lot of people in the crypto-verse would not agree with the statement of Samani, after the loads of negative comments and news that accompanied the Mainnet launch of EOS almost every day.

Samani also compared the currency issues faced by the EOS Mainnet launch to that of Ethereum – the blockchain upon which EOS was created. He also talked about how Ethereum started with nothing when it was launched but has gotten this far over the years.

Samani’s Remark on Litecoin (LTC)

The bullish sentiment of Samani wasn’t extended to the little brother of Bitcoin – Litecoin. Samani believes that Litecoin (LTC) does not have any reason to exist, that it has no place in the crypto market. He said the coin has just been sitting around and there are no investment thesis or developments around the coin.

Samani’s Remark on Ripple (XRP)

Samani has decided to draw the line for Ripple (XRP) as he refers to it as a security. He said: “if the SEC formally labels Ripple (XRP) as a security, all trading platforms will stop trading the coin. If this happens, the liquidity of the coin will dry up and its value will decline drastically.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.


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