It seems that the charm of Bitcoin (BTC) cannot be replaced by Ethereum (ETH) even though at the beginning of the year the price of one of these cryptocurrencies skyrocketed. Bitcoin touched the range of US $ 41,000 per btc earlier in the year. Currently, bitcoin prices are in the range of US $ 33,000 per btc.
Triv.co.id CEO Gabriel Rey emphasized that ethereum will never replace bitcoin because the functions of the two cryptocurrencies are completely different. ETH has no coin limit as it is with BTC.
In addition, it will be problematic if the ETH price is too high, because it will put the deFI and other smart contract ecosystems at risk due to the large transaction costs. "Moreover, ethereum is a utility coin and not a store of value like bitcoin," Rey told Kontan.co.id, Monday (25/1).
Rey said that in bitcoin, the inflow or inflow of money from institutions to bitcoin was still happening. In addition, there is an ETF (mutual fund) proposal which, if approved by the US Securities and Exchange Commission (SEC) this year, will make trillions of money go to bitcoin.
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