BTC - If Cathie Wood Is Bullish on Solana Should You Be Too?
2023-11-26 06:01:00 ET
Given the huge price rally for Solana (CRYPTO: SOL) this year, it's no surprise that investors, traders, and analysts are now rushing to put out fantastic new price predictions for Solana. With Solana up nearly 450% for the year and now trading around the $55 mark, many now suggest that Solana could soon break through the $100 level before regaining its all-time high of $260.
Of course, for that to happen, Solana will need to continue to gain ground at the expense of chief rival and market leader Ethereum (CRYPTO: ETH) , which is still 10 times more valuable. But just how realistic is that scenario? Let's take a closer look.
The primary investment thesis for Solana overtaking Ethereum can be summarized in just three words: Faster and cheaper. One of the proponents of this investment thesis is high-profile investor Cathie Wood of Ark Invest, who has long been known for her bullish views on Bitcoin (CRYPTO: BTC) and all things crypto. On CNBC, Wood recently suggested that the reason why Solana is so valuable is because it is faster and cheaper than Ethereum.
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If Cathie Wood Is Bullish on Solana, Should You Be Too?