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Multicoin Capital: EOS and Ethereum are the best, Litecoin has “no reason to exist,” and XRP is a security

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The American crypto-hedge fund Multicoin Capital, sponsored by Marc Andreessen, Chris Dixon, Union Square Ventures and other venture capitalists, relies on EOS and Ethereum but doubts the prospects for Litecoin and XRP.

Co-founder Multicoin Kyle Samani in a conversation with Fortune said that his company still supports EOS, despite the skepticism associated with the launch of the main project network.

“Now we hold our position and do not sell anything. The launch of EOS did not go as smoothly as we had hoped. Considering all aspects, I think that everything was not so bad, as they say. I agree that the launch was not as good as it should be, given the resources that they possessed, so they made mistakes and stumbled. But in the long term these errors are not of fundamental importance, “he said.

According to various sources, Samani holds a major position in EOS. He compares the problems when launching EOS with what happened to Ethereum at the time of its formation: “It seems that people forgot that at launch phase in 2015 Ethereum had no tools and infrastructure at all. People constantly talked about this, and using the system for a while was quite problematic. With EOS, everything went better. ”

At the same time, Samani does not minimize the role of Ethereum in the cryptocurrency space: “If you ask me to choose one token today and return to it in 10 years, I will take Ethereum”.

The bullish mood of Samani does not apply to Litecoin. In his opinion, there is simply no place for this cryptocurrency in the market. “Litecoin has no reason to exist. This fork bitcoin. It simply lies dead weight. The only investment argument I’ve heard about Litecoin is that it is a test network for bitcoin. But this is not an investment argument,” he explained.

Speaking about the own cryptocurrency of the American startup Ripple, Samani said that it is fully confident that XRP is a security. “It’s pretty obvious that Ripple is a security. We do not know when this will be reported, but the catalysts seem to have left Ripple. I believe that if the SEC officially calls Ripple a security, all exchanges will stop trading Ripple. If this happens, liquidity will evaporate, and the price will collapse. “

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