Cryptocurrency keeps making headlines these days! And for good reason, as the market price for Bitcoin and cryptocurrency has increased by over $ 2 trillion. That’s a lot of money!
Earlier this week, BTC maximalist and CoinDesk columnist Nic Carter predicted that Ethereum could overtake Bitcoin.
Let’s face it, the majority of the working class cannot afford to buy even half a bitcoin. While the majority of people can afford at least half or even a whole Ethereum coin.
Well, aside from Ethereum’s obvious affordability over Bitcoin, what else is going to make it overtake Bitcoin?
Let’s turn to billionaire Mark Cuban for some answers.
Laura Shin interviewed Cuban on her “Unchained” podcast about how Ethereum could be a better store of value than Bitcoin, and that’s what he said.
“I think the applications that use smart contracts and extensions to Ethereum will put Bitcoin to shame. Bitcoin has now become a store of value and it is very difficult to use for any other purpose. You really have to work a lot harder with Bitcoin than with Ethereum. “
Cuban also stated that he expects Ethereum’s long-awaited 2.0 upgrade to trigger the development of apps that “dwarf” Bitcoin.
This prediction, made by a man who once said he would “prefer bananas to bitcoin” and claim that crypto is “too complicated”, should not be ignored.
However, the owner of Dallas Mavericks has since made friends with cryptocurrencies and praised the emerging decentralized financial space. The EDI is largely based on the second largest cryptocurrency after Bitcoin, Ethereum.
The price of Bitcoin has increased by around 700% in the past 12 months. And cryptocurrencies have continued to rise as Elon Musk continues with his somewhat weird tweets (which actually move the price of Bitcoin) and super billionaire Jack Dorsey who gives him the stamp of approval.
Additionally, the Wall Street giants have started rolling out bitcoin services, with Mastercard and PayPal also on the bitcoin train.
Something that has gained quite a bit of traction lately is that big investors fear that inflation is on the verge of undermining the value of traditional currencies like the U.S. dollar, and this has further piqued interest as to whether Bitcoin is potentially rising Can counteract prices.
Cam Harvey, senior advisor to Research Affiliates and a professor of finance at Duke University, appears to disagree with the former.
“Cryptocurrency’s history is too short to assess whether it can protect against soaring prices.”
However, the huge rebound in Bitcoin prices has been obscured by Ethereum and some other cryptocurrencies, with Ethereum price rising an astonishing 1,100% since April 2020.
Cuban assumes that the upcoming upgrades to Ethereum, which are expected to be completed by at least the beginning of 2022, “will give some people a reason to use them Ethereum as a store of value via Bitcoin. ”
The Cuban told Shin too, and this perhaps outweighs the importance and clarity of what he said before.
“I think Ethereum and maybe two or three other blockchains will have their place in a couple of years and those will be the winners“Said the Cuban, adding that he will not sell his Bitcoin, but that he will owns “a lot more” Ethereum than Bitcoin.
In the meantime, choosing a cryptocurrency to invest in should be based on your current financial circumstances and what you can afford.
Therefore, at this point in time, it is largely a personal decision to weigh up whether to buy Bitcoin or Ethereum.
According to Cubans, we may not know which of the two cryptocurrencies has more value until at least 2022.
Any investment should always be secured through appropriate research. Always consult a financial expert and research, research, research! You can never do enough personal research into where you are putting your hard earned money !!
Read more about Mark Cuban’s thoughts on Ethereum here.
Note: The author is not a financial expert and this article is not intended to provide financial advice. The work in this article comes from credible sources and high-level financial experts in the cryptocurrency space.
Can Ethereum overtake Bitcoin as a better store of value? 5