Is Everything Except Bitcoin Dead?
Speaking with Milk Road, Electric Capital co-founder Avichal Garg pushed back against the increasingly popular argument that "everything except Bitcoin (CRYPTO: BTC) is dead."
He acknowledged that many cryptocurrencies may ultimately have little reason to exist but argued that Bitcoin’s success doesn’t necessarily mean there can only be one valuable internet-native asset.
Instead, Garg sees Ethereum, Solana and Near Protocol (CRYPTO: NEAR) occupying distinct niches.
Ethereum: In his view, ETH combines many of Bitcoin’s store-of-value characteristics, including liquidity, divisibility, seizure resistance and global transferability, with programmability.
That could prove particularly important as stablecoins and tokenized financial assets expand.
Ethereum’s smart-contract infrastructure could potentially become a major settlement layer for the global financial system, with ETH functioning as underlying collateral.
Solana: Rather than competing directly with Bitcoin as “digital gold,” Garg sees SOL’s high throughput, cheap transactions, stablecoin integrations and strong developer ecosystem positioning it as a consumer-focused blockchain.
Applications such as decentralized trading platforms could eventually generate sustainable businesses on top of the network.
Garg also highlighted Near as a potential beneficiary of the emerging AI-agent economy.
