VanEck Said Bitcoin and a Few Altcoins Will Be Successful in the Long Term, Revealed the Altcoins They Invested In!

Bitcoin (BTC) and one or two layer-1 blockchains are likely to outperform the market, said Matthew Sigel, VanEck’s head of digital asset research.

Speaking to Blockworks, Matthew Sigel said that in the long term, the economic value of the cryptocurrency sector will largely consist of just a few layer-1 networks.

Stating that investors will turn to DePIN and DApps in the future, Sigel predicted that the economic value will be obtained by Bitcoin and Solana (SOL).

“One to three types of layer-1 blockchains are likely to capture 99% of the economic value…

My intuition is that the overwhelming majority of economic value will be in Bitcoin and Solana, and investors will gravitate to DePIN and DApps.”

Sigel, who thinks Solana will come out ahead, stated that VanEck has invested in Solana DePIN projects and that they believe in SOL.

At this point, Sigel said VanEck is investing heavily in projects such as the DePIN project on SOL, Hivemapper (HONEY), and the decentralized mobile phone network Helium (HNT).

Sigel also added that VanEck is investing less in Ethereum-based projects.

“We have high belief in Solana and have started our investments at an early stage. Our investment weight in Solana is much higher than ETH.”

*This is not investment advice.

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