The managing director of the Dubai-based FD7 fund called bitcoin useless. In his opinion, the future belongs to altcoins, and that they will become more valuable than bitcoin in the next few years. At the same time, he said that the fund will sell its bitcoins in the amount of $750 million in the next 30 days. FD7 is going to invest in such coins as Cardano and Polkadot. FD7 managing director Prakash Chand called bitcoin "pretty useless."
"Ethereum, Cardano and Polkadot will become more valuable than bitcoin in the next few years. They are the foundation of the new Internet and Web 3.0, " Chand said.
On February 26, Cardano rose to the third place in the list of the largest cryptocurrencies by capitalization. Over the past day, its price has increased by 3.5%, and over the week-by 22%, according to Coingecko. Polkadot is ranked sixth by market valuation. Over the past 24 hours, it has fallen by 13%, and over the week-by 3%.
