1confirmation: Ethereum market cap may surpass Bitcoin in the next five years
Powered by ChatGPTOdaily Planet Daily News: Cryptocurrency investment firm 1confirmation has released its Q2 2024 LP letter. Founder Nick Tomaino stated in the letter that Ethereum's market cap will surpass Bitcoin's in the next five years. Currently, Bitcoin's market cap is four times that of Ethereum, and both will continue to grow, but Ethereum will eventually surpass Bitcoin. Nick Tomaino explained that Bitcoin has a clear narrative (digital gold) that institutions have now accepted. Ethereum has been the most influential blockchain in the crypto space over the past five years, but people outside the industry know little about it. Ethereum is scarce, generates income, and has real use cases. As its market cap is currently significantly smaller than Bitcoin's, Wall Street can own more. It is expected that Wall Street will continue to buy in and aggressively promote Ethereum to the world in the coming years.