If you were given the opportunity to invest in a crypto right now, would you choose ETH or bitcoin? It may take you a while to answer the question, but that’s not the case for Julian Hosp, CEO of the DeFi platform Cake. In a tweet published early this Thursday, September 7, 2023, the decentralized finance professional gives two main reasons why, according to him, the king of altcoins would make a much better investment than the parent cryptocurrency. On X, his post provoked very intense discussions.
In short
- Cake CEO Julian Hosp says ether is a better investment than bitcoin.
- According to Hosp, ETH offers more utility and functionality than bitcoin.
- Despite ether’s role in decentralized finance, some users point out that bitcoin remains a strong store of value.
ETH Makes a Better Investment Than BTC According to Cake Group CEO
While the price of ETH is currently hovering around $1,632.04, with a weekly performance drop of nearly 4.94%, the CEO of Cake compares the crypto to the oldest, bitcoin.
In a short and direct tweet published this September 7the former ER doctor and professional kitesurfer turned decentralized finance evangelist says that “if there’s one crypto to hold, it’s ETH.”
In another post, Julian Hosp claims to have asked ChatGPT if bitcoin would make a better investment than ETH and received the answer “no”. According to him, “bitcoin opened the way, we will be grateful to him, but what counts is the usefulness”, because, he maintains, “ETH can do everything that bitcoin can do , or even better.”
Some users support his point of view by notably advocating Proof-Of-Stake, the speed of transactions and its contribution to decentralized finance. Several others, however, offered a bite of history to Hosp, recalling the limits of ETH and the main elements that characterize the parent cryptocurrency.
Bitcoin: a cryptocurrency created to become digital gold and digital currency
While agreeing that decentralized finance has given ETH extraordinary utility, several users reminded Hosp that ETH cannot compare to bitcoin.
Most impactful was user Rip VanWinke who recalled that “Satoshi’s goal was for #BTC to become digital gold AND digital currency, but digital gold first.”
He published the first public statement made by Satoshi after the publication of the bitcoin white paper which allowed him to demonstrate that Satoshi’s objective was not to speed up transactions, since that is what makes the assets l ‘ETH.
For him, BTC is the only cryptocurrency that combines the characteristics necessary to be a store of value, to challenge central banks and establish itself as a sustainable means of payment.
Clearly, if ETH and its contribution to decentralized finance cannot be minimized, the potential of bitcoin to become digital gold and the strongest digital currency makes it a much more powerful crypto for the digital economy.
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