ETH can get ahead of BTC, and buying 1 BTC was compared to owning 60 cars
Messari thinks ETH can get ahead of BTC
Ryan Watkins, senior analyst at analyst firm Messari, believes that ETH could displace BTC from the first place in the ranking of cryptoassets in terms of capitalization. This can happen after the transition to the second version of the Ethereum protocol.
“The selling point of Bitcoin over Ethereum as a store of value asset boils down its monetary policy being very predictable and the Bitcoin blockchain being very secure. I think that with the shift to Eth2 and to proof-of-stake, […] Ethereum may actually potentially be more secure than Bitcoin,” said Watkins.
The analyst noted that a “massive and diverse” economy is based on the Ethereum blockchain. The actively developing direction of decentralized applications will attract new users faster than BTC, he is sure.
Bank of America analyst: buying 1 BTC is “like owning 60 cars”
Bitcoin is useless as a store of value or payment instrument. The only reason to become a holder of BTC is its growing price. This is the opinion of analysts at Bank of America, whose report is called “Little Dirty Secrets of Bitcoin.”
One of the authors of the report, Francisco Blanch, is confident that BTC cannot be a safe-haven asset due to the fact that it is not tied to inflation and has serious volatility. The analyst pointed out that about 95% of bitcoins are held by the owners of 2.4% of wallets, and this may become an obstacle to the global introduction of the crypto coin.
“As such, the main portfolio argument for holding Bitcoin is not diversification, stable returns, or inflation protection, but rather sheer price appreciation, a factor that depends on Bitcoin demand outpacing supply,” said Blanch.