3 Reasons Bitcoin Investors Should Also Collect Ethereum

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3 Reasons Bitcoin Investors Should Also Collect Ethereum

Todaysgist.com, Jakarta – With Ethereum spot ETFs coming soon to the United States (US) following approval from capital market authorities, should Bitcoin holders also own Ethereum (ETH)?

In a thread on platform X, Bitwise CIO Matt Hougan offered three reasons why Bitcoin crypto owners should also collect ETH.

First, is for the sake of diversification. Because it is difficult to predict the future of crypto, owning both leading assets can provide relief for investors if one asset falls out of favor, or is gobbled up by the other over time.

“Ask any investor from the dot-com boom who bought AOL Pets.com,” Hougan was quoted as saying cryptopotato.comFriday (21/6/2024).

“They predicted the whole thing right—the internet was going to be big!—but the details were wrong. Sad!” he explained.

When this article was written, Bitcoin's market capitalization accounted for 55% of the entire crypto market, according to TradingView, Ethereum was still around 18.6%.

Although ETH's performance has been generally flat against Bitcoin over the past five years, its dominance over the top crypto has slowly ebbed since its merger in September 2022.

However, the ETH/BTC ratio received a slight increase when it was approved to accept US spot ETFs last month.

The second reason, Hougan said the fundamental differences between Bitcoin and Ethereum make it difficult to choose between the two. While Bitcoin is optimized to be better money, Ethereum is designed to be programmable money that enables blockchain applications such as stablecoins and DeFi.

“Adding some ETH to a majority BTC position gives you broader exposure to everything a public blockchain can do,” he said.

Disclaimer: Every investment decision is in the hands of the reader. Study and analyze before buying and selling Crypto. Todaysgist.com is not responsible for profits and losses arising from investment decisions.

3 Reasons Bitcoin Investors Should Also Collect Ethereum

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