Modern Slave
  • Home
  • Bitcoin
    Bitcoin, Ethereum and XRP Price Trends Could Be Revealed Today

    Bitcoin Soars as Skepticism Dominates Crypto Market Scene

    Bitcoin Price in the Red for Fifth Straight Day

    Bitcoin Price in the Red for Fifth Straight Day

    Bitcoin Miner Digihost Completes Controversial Power Plant Acquisition, Doubling Energy Capacity

    Bitcoin Miner Digihost Completes Controversial Power Plant Acquisition, Doubling Energy Capacity

    Cardano Price Surges on SundaeSwap DEX Catalyst

    Cardano DEX SundaeSwap Floats First On-Chain Governance Proposal

    Fan Token Project Chiliz Rolls Out Layer 1 Blockchain, Token Surges 20%

    Fan Token Project Chiliz Rolls Out Layer 1 Blockchain, Token Surges 20%

    Three Arrows’ Founder Refused to Comply With Subpoena, Stonewalling Probe, Court Told

    Three Arrows’ Founder Refused to Comply With Subpoena, Stonewalling Probe, Court Told

    Here’s Why Artificial Intelligence Focused Cryptocurrencies Are Vastly Outperforming Bitcoin

    Here’s Why Artificial Intelligence Focused Cryptocurrencies Are Vastly Outperforming Bitcoin

    Komainu Receives Provisional Virtual Assets License in Dubai

    Dubai Mandates Licensing for Crypto Companies as It Sets Out Regulatory Requirements

    Central Banks Are Working on a Monitoring System for Stablecoin Balance Sheets

    Central Banks Are Working on a Monitoring System for Stablecoin Balance Sheets

  • Blockchain
  • Celsius
  • Crypto Mining
  • Ethereum
  • Exchanges
  • Forex Trading
  • Market
  • Regulation
  • More
    • XRP
    • Stellar
    • Store
  • Home
  • Bitcoin
    Bitcoin, Ethereum and XRP Price Trends Could Be Revealed Today

    Bitcoin Soars as Skepticism Dominates Crypto Market Scene

    Bitcoin Price in the Red for Fifth Straight Day

    Bitcoin Price in the Red for Fifth Straight Day

    Bitcoin Miner Digihost Completes Controversial Power Plant Acquisition, Doubling Energy Capacity

    Bitcoin Miner Digihost Completes Controversial Power Plant Acquisition, Doubling Energy Capacity

    Cardano Price Surges on SundaeSwap DEX Catalyst

    Cardano DEX SundaeSwap Floats First On-Chain Governance Proposal

    Fan Token Project Chiliz Rolls Out Layer 1 Blockchain, Token Surges 20%

    Fan Token Project Chiliz Rolls Out Layer 1 Blockchain, Token Surges 20%

    Three Arrows’ Founder Refused to Comply With Subpoena, Stonewalling Probe, Court Told

    Three Arrows’ Founder Refused to Comply With Subpoena, Stonewalling Probe, Court Told

    Here’s Why Artificial Intelligence Focused Cryptocurrencies Are Vastly Outperforming Bitcoin

    Here’s Why Artificial Intelligence Focused Cryptocurrencies Are Vastly Outperforming Bitcoin

    Komainu Receives Provisional Virtual Assets License in Dubai

    Dubai Mandates Licensing for Crypto Companies as It Sets Out Regulatory Requirements

    Central Banks Are Working on a Monitoring System for Stablecoin Balance Sheets

    Central Banks Are Working on a Monitoring System for Stablecoin Balance Sheets

  • Blockchain
  • Celsius
  • Crypto Mining
  • Ethereum
  • Exchanges
  • Forex Trading
  • Market
  • Regulation
  • More
    • XRP
    • Stellar
    • Store
No Result
View All Result
Modern Slave
No Result
View All Result
Home Ethereum

Crypto Bull Cathie Wood Says Ethereum Is More Undervalued Than Bitcoin

by Source in article
December 13, 2021
in Ethereum
0
Picture of ARK Invest CEO Cathie Wood

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.

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.

Related Reading | Why “Bitcoin Creator” Craig Wright Came Out Ahead Despite Having To Pay $100 Million

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.

Ethereum Is Still Undervalued

Wood was on CNBC’s Squawk Box 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.

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’s success.

“The 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.”

ETH price recoers above $4,000 | Source: ETHUSD on TradingView.com

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 “accelerate” its growth.

Still Bullish On Bitcoin

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. “Institutional managers have to look at new asset classes that are evolving and that have low correlation,” the CEO said. “That’s the Holy Grail in terms of asset allocation.”

Related Reading | Galaxy Digital CEO Explains Why Ethereum Is Outperforming Bitcoin

Bitcoin has no doubt had a good run in its over a decade of existence. However, Cathie Wood expects even more growth for the asset. Last month, the CEO expressed that with institutions moving more into bitcoin, it could rise to as high as $500,000 in the next five years.

Featured image from Crypto Adventure, chart from TradingView.com

Source link

Recommended

Anchorage Spearheads Crypto Custody Exchange Network to Enhance Trading, Liquidity

Anchorage Spearheads Crypto Custody Exchange Network to Enhance Trading, Liquidity

8 months ago
First Mover Asia: FTX Debacle Might Change Hong Kong’s Approach to Retail Crypto Trading; Bitcoin Shows Its Mettle

First Mover Asia: FTX Debacle Might Change Hong Kong’s Approach to Retail Crypto Trading; Bitcoin Shows Its Mettle

3 months ago

Popular News

    Binance Walks Away From Deal to Acquire FTX

    Binance Is Organizing a Consortium to Try to Rebuild Trust in Crypto: Source

    February 8, 2023
    Is a Partnership With Mastercard Enough to Keep Litecoin Price Above $100?

    Litecoin (LTC) Price Reaches Make-or-Break Level at $108

    February 8, 2023
    Crypto Exchange Bitstamp Wins Registration in Spain - CoinDesk

    Crypto Exchange Bitstamp Registers in France

    February 8, 2023

    Must Read

    • Binance Is Organizing a Consortium to Try to Rebuild Trust in Crypto: Source
    • Litecoin (LTC) Price Reaches Make-or-Break Level at $108
    • Crypto Exchange Bitstamp Registers in France
    • Visa is eyeing large value USDC settlements on Ethereum
    • Bitcoin Soars as Skepticism Dominates Crypto Market Scene

    Category

    • Bitcoin
    • Blockchain
    • Celsius
    • Crypto Mining
    • Ethereum
    • Exchanges
    • Forex Trading
    • Market
    • Regulation
    • Stellar
    • XRP

    Important Pages

    • Home
    • Privacy Policy
    • Terms and Conditions
    • Social Media Disclaimer
    • Medical Disclaimer
    • FTC Compliance
    • Earnings Disclaimer
    • DMCA Compliance
    • Copyright Notice
    • Anti-Spam Policy
    • Contact Us

    About Us

    We provide latest News related to CryptoCurrency.

    • Home
    • Contact Us
    • Terms and Conditions
    • Privacy Policy
    • Copyright Notice

    © 2021 Modernslave.io

    No Result
    View All Result
    • Home
    • Bitcoin
    • Blockchain
    • Celsius
    • Crypto Mining
    • Ethereum
    • Exchanges
    • Forex Trading
    • Market
    • Regulation
    • Stellar
    • XRP

    © 2021 Modernslave.io

    By continuing to browse the site you are agreeing to our use of cookies
    x Logo: Shield Security
    This Site Is Protected By
    Shield Security →

    Subscribe For Latest Updates

    Sign up to best of crypto news, informed analysis and opinions on what matters to you.

    Invalid email address
    We promise not to spam you. You can unsubscribe at any time.
    Thanks for subscribing!