Cryptocurrency, News & Updates

Corporations Presently Buy Electricity – In The Near Future, Ethereum

If you were surprised at the moves by MicroStrategy and Tesla into Bitcoin (BTC), just pause till the really big companies start changing part of their assets into this digital store of value.

Bitcoin is volatile, but it is volatile up, while the dollar is non-volatile and all indications are will be of decreasing value as time goes on. 

Several more modest, lesser-known companies are also turning holdings into Bitcoin. It is only a matter of time before Microsoft, Google, and Apple put big parts of their treasury into this new digital gold.

As a result of more institutional purchasing of Bitcoin and continued adoption by retail users, Bitcoin’s market cap is now at $872 Billion. This makes it the 9th largest asset in the world (Gold is number one, coming in at $11 Trillion. Apple is a distant number two coming in at $2.2 Trillion).

Since most of the institutional world is just now awakening to Bitcoin’s value, Bitcoin’s market cap can be expected to grow.

It is the new gold, and one day we could see it supplant Gold for the top of the global asset list.

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But there is a different asset that is on the list and growing fast: Ethereum (ETH). This digital asset has been called digital oil because it is spent when using the distributed computing resources of the Ethereum network. But it is also a store of value itself, and Ethereum currently has a market cap of $202 Billion. This is enormous!

There is a good possibility Ethereum will grow faster than Bitcoin did. One reason is it has more functionality. It is both a store of value and a programmable ability to create smart contracts. Ethereum enables the big recent moves to distributed finance (DeFi), which now holds over $30B in assets.

But different reason Ethereum will grow faster than Bitcoin did is that people are now more familiar with the whole concept of a smart, strong cryptocurrency. Because of moves by Tesla and MicroStrategy and many other institutional investors, several people are realizing they were wrong about Bitcoin, and are savvy enough to be more open to Ethereum.

This is a huge signal that the consumption will be quicker.

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