- Scott Melker shares his view on Bitcoin and Ethereum.
- He also discussed ETH’s recent Shanghai upgrade.
- BTC and ETH are currently up about 80% for the year.
Both Bitcoin as well as Ethereum have pushed hard to the upside in recent sessions – leaving investors wondering which of the two is a better investment.
Pro says BTC and ETH are separate assets
Interestingly, though, crypto specialist Scott Melker doesn’t see it fair to compare the two since they’re more like apple and oranges. Speaking with Yahoo Finance Live, he said:
I view Bitcoin as digital gold. Store of value, flight to safety. Ethereum is more of a tech investment. It’s internet of value. So, you can love one or both. You don’t have to choose.
Part of the reason for the ongoing surge in Bitcoin and Ethereum may have been the monthly CPI print that confirmed inflation was still well above the Fed’s 2.0% target in March.
Both BTC and ETH are currently up about 80% for the year.
Melker’s take on Ethereum’s Shanghai upgrade
Ethereum, in particular, has been in news since last month because of its so-called Shanghai upgrade that enabled holders to unstake the assets for the first time.
Discussing the hard fork on Yahoo Finance Live, Melker who hosts “The Wolf of All Streets” podcast said:
It’s a huge development for ETH, major step in right direction. There hasn’t been huge demand to withdraw. There are a lot of people actually waiting to deposit. We’re seeing net inflows.
Also recently, Ethereum co-founder Vitalik Buterin reiterated the need to fix scaling issues before the next bull run.
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When talking about investment solely for the sake of obtaining profits, it is not feasible to discuss cryptocurrencies without mentioning Bitcoin and Ethereum. Both of them are two of the most popular digital currencies which are used for transactions, especially those related to investments. Although Bitcoin and Ethereum share some similarities, there are some key differences that make them suitable for different purposes. To determine which one is a better investment, it is important to analyze the advantages as well as disadvantages of both currencies.
Bitcoin is the oldest digital currency created in 2009 by an unknown programmer. It has become the most well-known and widely accepted cryptocurrency. It is a decentralized currency which is not associated with any government or financial institutions. Additionally, the maximum amount of Bitcoins that can ever exist is fixed at 21 million. It has the highest market cap among all other cryptocurrencies due to its conceptualization, proven track record and boosting sales.
Ethereum, on the other hand, is a budding cryptocurrency made in 2015 by Vitalik Buterin. It is an open source, public, and decentralised platform that enables developers to build, manage, and execute all kinds of distributed applications. Despite the fact that Ethereum doesn’t have the same level of liquidity and adoption rate as Bitcoin, it offers some features that are overlooked by the latter. For example, developers can use the Ethereum platform to create their own digital tokens which can be used to raise funds. Furthermore, Ethereum supports smart contracts, which makes investing in Ethereum an attractive choice for some investors who are looking for potential gains done in a fast and secure manner.
When investing in Bitcoin or Ethereum, investors should consider different factors such as price, security, scalability, influencers and technology. In terms of price, Bitcoin is generally more expensive than Ethereum due to its high demand and limited supply. However, Ethereum has a higher potential for appreciation due to its cutting-edge technology. On the other hand, the security of both cryptocurrencies is ensured by cryptographic protocols and decentralized networks, which makes them more secure than traditional currencies. Moreover, both Bitcoin and Ethereum have effective scalability solutions.
In terms of influencers and technology, Ethereum may be the better choice. Ethereum has the most influential development team with the most active developers in the cryptocurrency community. Additionally, Ethereum is regularly releasing new versions and updates that are continuously improving its technology.
Overall, investing in either Bitcoin or Ethereum has its own advantages and disadvantages. Nonetheless, both of these cryptocurrencies hold immense potential in terms of financial gains. Therefore, investors should carefully consider their own situations and determine where and how to best allocate their funds for maximum benefits.
