Goldman Sachs Thinks ETH Could Surpass BTC But Not Gold

Goldman Sachs Thinks ETH Could Surpass BTC But Not Gold

Goldman Sachs thinks ETH could surpass BTC as a store of value but not gold as we can see more about the stance of the analysts in today’s latest Ethereum news.

In a note to investors on Tuesday, Goldman Sachs outlined the reason for the thinking that Ethereum could surpass Bitcoin as a store of value. According to the note, Goldman Sachs thinks ETH looks like the cryptocurrency with the highest real use potential and added that it is the most popular development platform for smart contract applications as per the reports.

ETH Hashrate Drops 25%, mining, china,

Bitcoin could have the stronger brand given the first-mover advantage but added that BTC lacks some of the often-cited real use cases of ETH. This is due to the slow transaction speeds of 7 transactions per second and Ethreum is now in a current state of mind that is not much quicker but with around 15-20 transactions per second. The bank did state that neither crypto-asset can compare with gold as a store of value and argued that its high volatility doesn’t make them comparable:

“Gold is competing with crypto to the same extent it is competing with other risky assets such as equities and cyclical commodities. We view gold as a defensive inflation hedge and crypto as a risk-on inflation hedge.”

What it did not compare were the gains between the two. So far, gold has declined 5.4% while Ethereum has made gains over 215% to current levels, and this including 46% corrections. Goldman added that the competition between different assets is also preventing them from becoming safe-haven assets at this stage. The banking giant flip-flopped on crypto assets even gold recently with a report in June contradicting its current findings:

“The argument that Bitcoin and cryptocurrencies are a digital version of gold does not confer any value to Bitcoin and other cryptocurrencies, because gold itself is not a consistent or reliable store of value.”

Gold Outshined BTC, bitcoin, market, price

There were obvious divisions in the bank about the approach to crypto and Goldman Sachs led a $15 million investment round for Coin Metrics. The bank added Bitcoin to its year-to-date returns report and Goldman even filed for a Bitcoin ETF with the SEC according to crypto custody firm New York Digital Investment Group.

  • Bitcoin
  • Ethereum
  • Tether
  • Cardano
  • Polkadot
  • Binance coin
  • Dogecoin
Scan to Donate Bitcoin to 194astnfvj2nr6izGJFwG9ebRqNU7ynQYY

Donate Bitcoin to this address

Scan the QR code or copy the address below into your wallet to send some Bitcoin

Scan to Donate Ethereum to 0xe5853a1d08b3ea0bb69276b0e40cdf858968d822

Donate Ethereum to this address

Scan the QR code or copy the address below into your wallet to send some Ethereum

Scan to Donate Tether to 0xe5853a1d08b3ea0bb69276b0e40cdf858968d822

Donate Tether to this address

Scan the QR code or copy the address below into your wallet to send some Tether

Scan to Donate Cardano to DdzFFzCqrhsu1xWeeGai3gbgsbrFP26zPaVrCJqqF286carQJmAkTitRQSUCLhYLpKCotroRRNpKj7YcnAJQqpSfsHHdj8nUaitPvH4j

Donate Cardano to this address

Scan the QR code or copy the address below into your wallet to send some Cardano

Scan to Donate Polkadot to 155rGKVEanCxpi5EqGh8yh1AkGpm6bVUa7RQNydA38KzbhNu

Donate Polkadot to this address

Scan the QR code or copy the address below into your wallet to send some Polkadot

Scan to Donate Binance coin to bnb136ns6lfw4zs5hg4n85vdthaad7hq5m4gtkgf23

Donate Binance coin to this address

Scan the QR code or copy the address below into your wallet to send some Binance coin

Tag/Note:- 105346725
Scan to Donate Dogecoin to DKN9sscVgSBVyG7f9PYJq2D3BhWK5ffUmK

Donate Dogecoin to this address

Scan the QR code or copy the address below into your wallet to send some Dogecoin


Credit: Source Link

Comments are closed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy
WP Twitter Auto Publish Powered By : XYZScripts.com