von - Scott Melker shares his view on Bitcoin and Ethereum, both of which have seen a surge in recent sessions.
- He believes that it is unfair to compare the two since their purpose is different – Bitcoin as digital gold, store of value whereas Ethereum more like tech investment.
- The Shanghai upgrade last month enabled holders to unstake Ethereum assets for the first time.
Bitcoin vs Ethereum: A Comparison
Scott Melker shared his view on Bitcoin and Ethereum with Yahoo Finance Live. According to him, these two cryptos should not be compared as they are like apples and oranges – Bitcoin being a digital gold, a store of value while Ethereum being more of a tech investment. The recent surge in both cryptocurrencies may have been triggered by the monthly CPI print indicating inflation above the 2% target set by Fed. ETH was also in news recently because of its so-called Shanghai upgrade enabling people to unstake their ETH assets for the first time.
Why Invest In Bitcoin?
Bitcoin is widely considered as digital gold due to its potential as a store of value. It has been gaining popularity among investors looking for flight to safety or an alternative asset class during times of economic uncertainty. Moreover, BTC has gained quite significantly this year with price up 80%.
Why Invest In Ethereum?
Ethereum stands out from other cryptocurrencies due to its capability to facilitate smart contracts and decentralized applications (dApps). This makes it an ideal choice for those looking for a technology investment rather than just a store of value. The Shanghai upgrade has made it easier for people to stake/unstake their ETH assets thus increasing demand for ETH even further. Vitalik Buterin recently reminded about fixing scaling issues before next bull run making ETH even more desirable among investors.
Conclusion
Both Bitcoin and Ethereum have quickly become popular among crypto enthusiasts due to their respective benefits over traditional investments such as security, high returns etcetera. There’s no single answer when it comes to which one is better; however, investors should decide based on their own risk appetite and investment goals whether they want exposure in either or both coins before investing any money into them.
FAQs
Q: What did Scott Melker say about comparing BTC & ETH?
A: Scott Melker said that it’s unfair comparing BTC & ETH since they are like apples & oranges – with BTC being digital gold & store of value while ETH being more like tech investment.
