Su Zhu, co-founder and CEO of hedge fund Three Arrows Capital, recently stated that the Bitcoin dominance metric only applies to billionaires.
His most recent statement is aimed at newcomers who have chosen to avoid the two largest cryptocurrencies in favor of riskier crypto tokens.
Earlier this year, a speculative frenzy swept meme tokens like Dogecoin, with retail investors looking for exorbitant returns.
Zhu stated that if he were starting out today, he would put his money on Solana and Avalanche (along with their ecosystems).
Nonetheless, the crypto billionaire remains bullish on both Bitcoin and Ethereum. He believes the former will flip gold’s market cap, while the latter will eventually reach $25,000.
In February, he made an outlandish prediction that Bitcoin would eventually reach $2.5 million.
Some, however, believe that the leading cryptocurrency no longer has much room for growth. Economist Alex Krüger recently tweeted that crypto investors who seek “extraordinary” returns should put their money elsewhere.
Bitcoin’s dominance is on the verge of collapsing.
After recovering to a multi-month high of 49.25 percent on July 30, Bitcoin’s dominance reversed course and fell below 40 percent on September 10. El Salvador’s official adoption of the crypto king as legal tender did not help Bitcoin’s market share, with retail investors flocking to Solana.