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JPMorgan Lists Ethereum As A Better Investment Than Bitcoin

Ethereum has proved itself be to a force to be reckoned with and big bank JPMorgan agrees. When it comes to performance, Ethereum has outperformed rival Bitcoin, although the latter remains the most valuable cryptocurrency in the space. However, if history is any indication to go by, then Bitcoin may not be in the lead for much longer.

Analysts at JPMorgan recently released a report on cryptocurrencies and their potential. Although the note acknowledged the ability of Bitcoin, it also puts Ethereum ahead of the leading cryptocurrency in coming years. The report based its argument on the utility of both assets. While Bitcoin is good for its monetary policy, Ethereum has proven to be even better.

Related Reading | Why This Crypto Billionaire Abandoned Ethereum

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The JPMorgan note outlined how Etheruem could prove to be the better bet compared to Bitcoin in the long wrong. Bitcoin may still be the most valuable cryptocurrency, but with climbing interest rates, Ethereum could end up faring better.

“The rise in bond yields and the eventual normalization of monetary policy is putting downward pressure on bitcoin as a form of digital gold, the same way higher real yields have been putting downward pressure on traditional gold,” said the analysts.

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This is because as interest and inflation rates rise, more investors will flock towards decentralized finance (DeFi) protocols, which offer more attractive interest rates than traditional finance. Given that majority of these DeFi protocols are built on the Ethereum blockchain, it will only drive more adoption in the digital asset, providing it more room to grow than Bitcoin.

In the note, JPMorgan also points to the budding NFT, gaming, and stable coins portion of the market. This makes it a “safer” bet than Bitcoin when it comes to investing in cryptocurrencies, which are infamous for their volatility. As...

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You know what scares me? A central bank increasing the money supply by 50 percent within 18 months, telling me it has no/little impact on inflation, and when prices go up, Warren blaming "greedy corpo...