Bitcoin increasingly gives credibility to its role as a leader. Many wonder what the other great crypto of the future would be. In other words, just like gold to silver, what other crypto could pair with Bitcoin? For Franck Holmes, Ethereum is on the way to becoming digital “money”.
It is well known that Bitcoin is often compared to gold. One of the main reasons is that Bitcoin is considered a store of value. Like gold, Bitcoin is resistant to inflation and therefore protects your capital. If we take the metaphor, what crypto could play the role of money?
The next “big” crypto will be … Ethereum
Franck Holmes is the Executive Chairman of HIVE Blockchain and the CEO of Global Investors. He spoke recently on cryptos. In particular, he said, according to him, what would be the next ‘big’ crypto in the future. For Franch Holmes, Ethereum will become a crypto as essential as Bitcoin.
To support his remarks, Franck Holmes compared the crypto market to that of metals. As we know, Bitcoin is often – and rightly – compared to gold. And for him, Ethereum looks a lot like ‘digital money’.
The Ethereum / Bitcoin pair similar to that of gold / silver
Silver is one of the most popular metals. Often the price of silver can be correlated with that of gold. For Franck Holmes, the same observation can be made between Bitcoin and Ethereum. Concretely, when Bitcoin rises, Ethereum follows with a slight ignition delay.
“When gold hits a 50-day moving average and goes up 15-20%, silver suddenly goes up 30%. The interaction between Ethereum and Bitcoin is similar to that between silver and gold. Bitcoin launches the first charge, then all of a sudden Ethereum explodes upwards. »Franck Holmes, Executive Chairman of HIVE Blockchain and CEO of Global Investors
Another argument in favor of bringing Ethereum closer to silver is at the level of versatility. Ethereum is multi-terrain. As we know, Ethereum is the DeFi sector but also NFTs. Additionally, with its transition to POS, Ethereum’s carbon footprint is lower than that of Bitcoin.
“Ethereum has many more uses than Bitcoin, like silver… 20% of the demand for silver is for solar energy. Money has a better carbon footprint, viruses cannot live on money, it has many medical uses. The same with Ethereum; it is used for DeFi, NFT, etc. »Franck Holmes, Executive Chairman of HIVE Blockchain and CEO of Global Investors
At the time of writing this article, the price of Ethereum is relatively stable around € 3,000. However, the projections are encouraging on Ethereum. For example, some analysts see a Ethereum around $ 20,000 in 2022.