There has always been a debate on whether Ethereum is better or Bitcoin. And more often than not, there are two polarising views on the same, and we don’t ever come to a conclusion. But it does have to mean something when a big bank says that they see more potential in ETH than BTC. This is because Goldman Sachs has recently given a statement saying that Ethereum has more uses and can cross Bitcoin in the future.
What potentially makes Ethereum better than Bitcoin?
Bitcoin has a lot of restrictions like the block size, the number of transactions per second and energy usage. These are the problems that Ethereum has already solved or are looking to solve in the Ethereum 2.0 that is coming soon. For example, the proof of work will change to proof of stake in the same. This makes Ethereum much more practical as compared to Bitcoin. I sometimes think that why don’t more companies invest in ETH.
Goldman Sachs even said that Ethereum has a lot more potential use cases as compared to Bitcoin. The ability to create smart contracts, mint NFTs, make apps on its platforms makes it more attractive than BTC. So, in the future, we might see that Bitcoin is replaced ETH as a better store of value. In fact, the numbers say it all. In the last 6 months, we have seen ETH outperform Bitcoin significantly, and if this continues, it won’t be long before the currency becomes the largest by market value.
Goldman still believes in Gold.
Even after saying that Ethereum is better than Bitcoin and might overtake it, Goldman Sachs prefers gold. The analysts from the bank said that Gold brings stability to one’s portfolio and is a defensive inflation hedge. On the other hand, even though crypto is also used as an inflation hedge, it is more of a risky one. This is why the bank doesn’t see crypto replace Gold anytime soon. Yes, it does make sense, as we all know that crypto is volatile. And still, most of the investors are not able to handle such swings.
What are your thoughts on Goldman Sachs saying that Ethereum is better than Bitcoin? And do you think that Eth will be able to cross Bitcoin? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.
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