Bitcoin and Ethereum have had a sort of rivalry for quite some time now. Many ETH enthusiasts have been of the view that Ethereum will outperform Bitcoin at one point, and it seems that the well-known financier Mike Novogratz also shares the opinion.
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Bitcoin and Ethereum are the top two cryptocurrencies in the market and have made their way into the books of several major companies and organizations. However, there are differences in the blockchain technologies, which is what adds fuel to the fire and leads people to speculate that one can outperform the other.
However, the question is can ETH excel and surpass BTC at one point in time? Let’s find out.
Why Does It Seem Possible for ETH to Outperform BTC?
Many people have different opinions, especially those who specifically have been in BTC or ETH’s corner. Mike Novogratz is not the first person to claim that Ethereum could exceed Bitcoin at some point.
Carl Icahn, Charles Hoskinson and Todd Morley are some of the popular names that have shared their opinions on why Ethereum could excel beyond Bitcoin and their opinions align to a great extent.
Bitcoin is the largest crypto asset and has an older mainframe programming and according to some, it will slow down with time. Some crypto enthusiasts are of the view that ETH can be used as a payment system as well as being a store of value, which adds to the utility of the digital asset.
In a recent interview, Mike Novogratz also gave his reasons for believing that ETH could outperform BTC, which is that Ethereum has a very different use case as compared to the top crypto asset. He also stated that Ethereum is the biggest competitor of Bitcoin and can serve as base layers for Web 3.0.
However, Bitcoin is a significant crypto asset and even though its mainframe programming might be older than others, it is still recognized all around the globe.
BTC is not only anticipated to be adopted by countries following El Salvador’s lead but it is also being embraced by banks. This is a huge step towards the success and growth of the flagship digital currency.
Several other reasons contribute to the rank that Bitcoin is at and has retained despite drastic fluctuations in its price.
Therefore, considering the factors mentioned above, it can be difficult to say at the moment whether Ethereum will become the largest crypto asset or not.
What Should You Be Opting for as a Crypto Investor?
Bitcoin and Ethereum are two competing crypto assets. However, the utility and benefit both digital assets have extended to their investors cannot be overlooked.
For ETH, a new update named, ETH 2.0 has been planned for almost a year and is expected to take the network to the next level.
On the other hand, BTC has gained popularity on a different level ever since it has been adopted as a legal tender by El Salvador.
Both the digital currencies have their utilities and advantages and which crypto asset the investors choose will be according to their requirements and personal preference.
However, regardless of the digital asset they choose, using the lowest fees crypto exchange for crypto investing is essential.
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