ETH outperforms BTC for more than just one hedge: Novogratz
According to Mike Novogratz, ETH outperforms BTC not only in terms of inflation protection, as Bitcoin should be. Let’s find out more about this in today’s Ethereum news.
According to Michael Novogratz, CEO of Galaxy Digital, ETH outperforms BTC because it is more than just inflation protection.
Etheruem is considered to be a more attractive investment option than BTC, while Bitcoin acts only as an inflation hedge and has no advantage over the second largest cryptocurrency.
The idea that Ethereum is at the forefront of the digital asset industry has been around for a while now. While there have been no real changes until recently, the situation is changing. Bitcoin is still the leader and the number one cryptocurrency with 70% growth to date. On the other hand, Etheruem is up 500% since the beginning of this year. In a recent interview Galaxy Electronic CEO Mike Novogratz added that he considers Ethereum a more powerful project, highlighting that the mainstream cryptocurrency has limited use cases and is mainly used as a hedge against rising inflation.
On the other hand, the network behind ETH enables the provision of smart contracts and the creation of decentralized applications, and is also a programmable blockchain network for wider use in various fields such as NFT and DEFI:
“This is why you see that Ethereum is truly superior to Bitcoin. People see Ethereum as a technology bet and Bitcoin as a discount on fiat currency bets. ”
This is the second time he has expressed such an opinion, as the executive even predicted that Bitcoin would be a digital version of gold for the next 3,000 years, while Ethereum would have a different use case and a different use case in the future. Novogratz commented on the recent downturn in the crypto industry as he doesn’t believe the price of BTC could fall below $ 40,000 as institutions and other countries have exhausted property potential:
He concluded by saying, “People have realized that cryptocurrency is an asset class and bitcoin is part of a crypto portfolio.
He then stated that the economy is booming, which means that investors should expect a “blatant fourth quarter” because we have high inflation and growth.
Mark Cuban is another person who praised Ethereum and advised those who are just getting started in the crypto space to choose it as an investment option due to its enormous potential.
