A prominent figure in the cryptocurrency sector, James Wo, has successfully transformed a $20 million investment from his family into a billion-dollar fund, reaffirming his belief in bitcoin's potential.

James Wo Highlights Bitcoin's Institutional Strength Amid Ether Skepticism

By Olivier Acuna|Edited by Aoyon Ashraf Jun 6, 2026, 3:00 p.m. 3 min read

James Wo, CEO and founder of DFG, built a $1 billion empire starting with a $20 million investment from his mother. (Olivier Acuna/CoinDesk)

Key Points:

  • James Wo, CEO of DFG, emphasizes that bitcoin has gained significant institutional acceptance and is viewed as a safe haven, unlike ether.
  • He suggests that Ethereum's market value is weakened as transactions and fees shift to Layer-2 solutions, and doubts ether will reach new peaks despite ongoing discussions about network improvements.
  • With a decade of investing experience, Wo predicts bitcoin will outperform major stock markets, possibly correcting to around $60,000, and anticipates a new high of about $125,000 by 2027 or 2028.

Wo, who leads the crypto investment firm DFG, asserts that bitcoin continues to be the leading institutional asset in the cryptocurrency market, with ether unlikely to attain the same recognition in the near future.

During an interview with CoinDesk at the Proof of Talk conference in Paris, Wo dismissed Tom Lee's prediction that ether could soar to $250,000, arguing that Ethereum lacks the strong institutional backing that bitcoin has secured.

"I completely disagree with him," Wo stated. "Bitcoin has a robust consensus. Anyone who supported it early on continues to believe in its value. Additionally, both crypto enthusiasts and traditional finance professionals see bitcoin as a safe haven or asset class. I don't believe Ethereum is there yet."

As of the latest updates, ether was trading at approximately $1,775, while bitcoin hovered around $63,000.

Wo explained that ether's fundamental valuation is closely tied to the localized applications operating on the network that generate fee revenue. With the rise of Layer-2 networks diverting transaction volume, he argues that the network's ability to accrue value has fundamentally changed.

"The value of ether has become more decentralized," Wo pointed out. "The Ethereum token overall will not capture substantial value. On-chain activity has not reached the expectations set by many... I don't foresee Ethereum achieving a new all-time high. I believe bitcoin will perform well, but not Ethereum," he asserted.

However, not everyone shares Wo's view on Ethereum's valuation challenges. In February, Vitalik Buterin, co-founder of Ethereum, sparked discussion by suggesting that Layer-2 networks might "no longer make sense" as Ethereum improves in speed and cost-effectiveness. This debate raises questions about potential upgrades that could enhance economic activity on the Ethereum base layer.

Wo's Journey into Cryptocurrency

Wo's perspective stems from over a decade of investment experience, which began with bitcoin. After studying mathematics, he observed peers trading bitcoin during the bear market of 2014. He entered the market with a $20 million investment from his mother, who operated a successful enterprise and private equity firm in China.

"Initially, I don't think she had faith in me," Wo recounted. "What is bitcoin? She had no clue." Nevertheless, she supported him, stating, "Okay, I will back you anyway."

Wo invested that initial capital into bitcoin during the market lows of late 2014 and 2015. As the bull market of 2016 unfolded, he expanded DFG’s portfolio to include alternative layer-1 protocols, becoming an early investor in projects like Solana, Polkadot, and Near.

He also made early investments in consumer applications and Web3 infrastructure, including a $10 million stake in Circle's USDC stablecoin project in January 2018.

These strategic investments have helped DFG evolve from a bitcoin-centric investment entity into one of the larger venture investors in the crypto space, now managing over 100 portfolio companies with assets exceeding $1 billion.

Optimistic Outlook for Bitcoin

Despite his reservations about ether, Wo holds a positive long-term view on bitcoin. He sees it as a superior liquid investment compared to regional real estate and traditional stock markets.

"I firmly believe this will outperform both the Chinese and U.S. stock markets," Wo stated. "Bitcoin stands out in terms of liquidity globally."

He anticipates a potential short-term correction for bitcoin before it reaches new highs in the market cycle.

"If it experiences a 50% correction... the bottom should settle around $60,000 to $62,000," Wo estimated, adding that only an extraordinary geopolitical event could drive the price lower.

Looking ahead, he predicts bitcoin will achieve new all-time highs in the coming years.

"At the peak, we could see it reach around $125,000... I expect we’ll witness a new record in 2027 or 2028."

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