Animoca bets on altcoin upside to lure investors as it plans for IPO
Animoca Brands’ founder, Yat Siu, anticipates that the crypto industry will not have a one-winner “takes all” scenario like the internet era in the early 2000s.
Animoca Brands founder Yat Siu aims to position his company as a vehicle for investors to gain exposure to broader crypto projects and the altcoin market, as the company plans to go public through a reverse merger next year.
“We believe that altcoins, ultimately, over the largest space, are going to outperform Bitcoin as a collective,” Siu said during an interview with Cointelegraph on Wednesday.
Siu compared Bitcoin (BTC) to gold, saying that while no single company is bigger than gold’s market capitalization, all public companies combined are “roughly five to six times gold.”