Ethereum (ETH) represents an even bigger investment opportunity than Bitcoin (BTC), according to Matt Hougan, the chief investment officer at Bitwise.
Hougan says that Ethereum is the largest investment opportunity in the entire crypto space.
“Ethereum is a new global computing platform that could rewire how the entire financial industry and much of the creative world works…
Ethereum’s value is driven by cash flows. This is different from most other crypto assets.
The more people who use the Ethereum network the more revenue the blockchain generates. This revenue benefits ETH holders through the crypto equivalent of buybacks & dividends.”
The CIO of Bitwise, the largest crypto index fund manager in the US, also notes that Ethereum is home to the largest number of applications and developers in the crypto space. Additionally, he points out that the blockchain is already being used as a platform by big companies.
“Examples: 1) Nike did $200 million in digital goods revenue on Ethereum in the past few years; 2) PayPal just launched a new payments solution on Ethereum; 3) Goldman Sachs structured a $100 million bond on Ethereum.
That bond, for what it’s worth, settled in one minute … instead of the standard five days.”
Lastly, Hougan argues that Ethereum is the most likely home in the crypto ecosystem for tokenized real-world assets.
ETH is trading at $1,652 at time of writing. The second-ranked crypto asset by market cap is down more than 3% in the past 24 hours.
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- Source: https://dailyhodl.com/2023/10/04/ethereum-presenting-one-of-the-most-compelling-investment-opportunities-in-the-world-bitwise-cio-matt-hougan/
