Billion-dollar crypto investor doubles down on bitcoin, doubts ether upside

James Wo, founder and CEO of crypto investment firm DFG, told attendees at the Proof of Talk conference in Paris that bitcoin remains the dominant institutional asset in crypto and rejected Tom Lee’s prediction that ether could reach $250,000. "I totally disagree with him," Wo said.

"Bitcoin has a very strong consensus. If you talk to everyone who is an early backer... they believe in bitcoin." Wo argued that ether’s valuation depends heavily on the localized application layer that captures fee value, and that modern Layer-2 networks now divert transactional volume and fee utility away from the base layer.

"The value of ether has been more diversified or decentralized," he said. "The Ethereum token as a whole is not going to capture a lot of value. Onchain activity is not as big as people expected... I don't think Ethereum will even hit an all-time high.

France, Paris

james wo, dfg, bitcoin, ether, tom lee, ethereum, layer-2, paris, fee value, onchain activity