Bitcoin
BTC
, ethereum and other major cryptocurrencies have struggled this year, failing to maintain the momentum they had in 2021.
The bitcoin price has been bobbing around $40,000 per bitcoin for much of the year with a volatility roller coaster keeping traders on their toes as bitcoin and ethereum price predictions flood the market.
Now, a legendary crypto investor once lauded as “bitcoin Jesus” has returned to the public sphere, praising Tesla
TSLA
billionaire Elon Musk’s plan to buy Twitter
TWTR
and naming the meme-based dogecoin, litecoin and bitcoin cash, a fork of bitcoin, as the top “contenders” for the title of the world’s dominant cryptocurrency.
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Bitcoin, ethereum and other cryptocurrencies such as dogecoin and litecoin have seen wild swings in … [+]
SOPA Images/LightRocket via Getty Images
“Dogecoin
DOGE
is significantly better [than bitcoin], it’s cheaper and more reliable,” Ver, who had stepped away from his 700,000-follower Twitter account a year ago before returning this week, told Bloomberg.
“If I had to pick three contenders [for the world’s dominant cryptocurrency,] they would be doge, litecoin and bitcoin cash.”
Dogecoin, litecoin and bitcoin cash are all based on bitcoin but adopted various changes to make them better suited to payments. Bitcoin itself has developed a reputation as “digital gold” in recent years following the 2017 so-called blocksize war that resulted in the creation of the Ver-backed bitcoin cash.
“I am definitely a cryptocurrency whale still,” said Ver, who cofounded Blockchain.com and was an early investor in XRP
XRP
developer Ripple and now holds various cryptocurrencies including ethereum, the privacy-focused monero and XRP.
“I’ve always had a wide assorted basket in cryptocurrency. I was never a bitcoin or bitcoin cash maximalist.”
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The dogecoin price had traded sideways for years before exploding in late 2020, rocketing into the … [+]
Coinbase
Litecoin
LTC
and bitcoin cash have slipped down the rankings of the most valuable cryptocurrencies in recent years as new projects steal the limelight. Litecoin is now the 21st most valuable coin, while bitcoin cash is 26th, according to CoinMarketCap data.
Dogecoin, created as a “joke” in 2013, has seen its price and popularity soar over the last 18 months thanks to support from the likes of Elon Musk and other high-profile figures.
The dogecoin price has rallied this last month following a steep 80% decline on the back of Musk’s Twitter bid. Dogecoin traders are betting Musk, who’s long been a dogecoin fan, could integrate it into the platform. Musk has floated the idea of paying for Twitter’s premium service with dogecoin.
“[Musk owning it will] certainly make Twitter more attractive,” said Ver.
