{"id":478758,"date":"2021-12-13T23:00:34","date_gmt":"2021-12-13T23:00:34","guid":{"rendered":"https:\/\/wncen.com\/?p=478758"},"modified":"2021-12-13T12:10:11","modified_gmt":"2021-12-13T12:10:11","slug":"crypto-bull-cathie-wood-says-ethereum-is-more-undervalued-than-bitcoin","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/crypto-bull-cathie-wood-says-ethereum-is-more-undervalued-than-bitcoin\/","title":{"rendered":"Crypto Bull Cathie Wood Says Ethereum Is More Undervalued Than Bitcoin"},"content":{"rendered":"
The Bitcoin versus Ethereum debate has been going on for years and waxes stronger as the market grows. Pitting the two top cryptocurrencies against each other has been one of the greatest pastimes for the market. However, not everyone subscribes to the school of thought that they are in competition.<\/p>\n
ARK Invest CEO Cathie Wood is known in the crypto space for giving her outlook on Bitcoin but Ethereum has been largely left out of the conversation. Wood is mostly known in the space for her bitcoin at $500,000 prediction, which she has stood by at various points.<\/p>\n
Related Reading |\u00a0Why \u201cBitcoin Creator\u201d Craig Wright Came Out Ahead Despite Having To Pay $100 Million<\/a><\/strong><\/em><\/p>\n The CEO has always expressed that she believed that bitcoin is still largely undervalued and has a lot of growing to do in the coming years. However, Wood has pointed out that number 1 altcoin ethereum is even more undervalued than bitcoin.<\/p>\n Wood was on CNBC\u2019s Squawk Box<\/a> to talk about the crypto market. On the show, the CEO expressed that ethereum was still greatly undervalued. She put this in perspective using bitcoin, the largest cryptocurrency in the market, which she believes is still greatly undervalued. Wood explained that as undervalued as bitcoin is, ethereum is still way undervalued compared to it.<\/p>\n One of the major reasons behind investments in ethereum has been the utility of the digital asset. Decentralized finance (DeFi) has seen tremendous success despite been only a year old and ethereum hosts the majority of DeFi activities. Wood reiterated the fact that DeFi was the driving force behind the digital asset\u2019s success.<\/p>\n \u201cThe fact that it is the venue, or the protocol, for DeFi and for NFTs suggests to us that it is even more undervalued than Bitcoin is, just because there are new worlds growing up on top of it.\u201d<\/p>\n<\/blockquote>\n <\/p>\n According to the CEO, ethereum is still in its infancy and has a long way to go, whereas bitcoin has already been established for being a monetary system. She added that institutions are going to move more into DeFi and NFTs, which would \u201caccelerate\u201d its growth.<\/p>\n Wood did not fail to reiterate her stance on bitcoin. The CEO noted that institutional investors were moving into the digital asset. Bitcoin has become impossible to ignore and Wood explained that institutions have to explore it. \u201cInstitutional managers have to look at new asset classes that are evolving and that have low correlation,\u201d the CEO said. \u201cThat\u2019s the Holy Grail in terms of asset allocation.\u201d<\/p>\n Related Reading |\u00a0Galaxy Digital CEO Explains Why Ethereum Is Outperforming Bitcoin<\/a><\/strong><\/em><\/p>\nEthereum Is Still Undervalued<\/h2>\n
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ETH price recoers above $4,000 | Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Still Bullish On Bitcoin<\/h2>\n