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.
Founded in 2015, Coinchapter.com has become one of the leading resources for the crypto asset community. Created by a small group of cryptocurrency enthusiasts, Coinchapter.com was built to provide new members of the crypto asset community with unbiased listings of cryptocurrency exchanges and retail options that would allow them to buy the crypto assets that they wanted, how they wanted and at the price they wanted.