Crypto News Blocks

One Whale Believes Ethereum Could Soon Be The ‘Better Digital Gold’ Than Bitcoin

  • While Bitcoin is seen as a store of value and a “digital gold,” Ethereum is widely thought to be more of an ecosystem backbone. The vast majority of the actively used crypto space is run through the Ethereum blockchain.
  • The gap between Bitcoin and Ethereum in terms of underlying similarities may begin shrinking in the near-term however, as one early Ethereum investor is noting that two changes to the ETH network could soon make it a “better digital gold than BTC.”
  • He is specifically pointing to Ethereum Improvement Proposal 1559 and the Proof-of-Stake consensus system incorporated under ETH 2.0 as reasons why the token will soon inherent gold-like properties.
  • Bitcoin’s underperformance of BTC may be coming about due to institutions driving this Bitcoin upswing and buying the crypto because of the “digital gold” narrative.
  • If these network changes ignite a narrative regarding Ethereum being a store of value, it could see large inflows from institutions who want to diversify across multiple digital assets.
  • Read the full story here

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