Ethereum Will Outperform Bitcoin Within Five Years, Says DeVere Group’s CEO

2021-09-03 23:50:54 Primitive Reading

Nigel Green – CEO of the financial advisory firm deVere Group – believes Ethereum would surpass Bitcoin and become the leading digital asset within five years. He argued that the former has more tech advantages than its rival, which would be the key to its rally.

‘Ethereum Is More Useful Than Bitcoin’

According to Nigel Green – the founder of the digital service provider deVere Group – Ethereum would exceed Bitcoin’s value by 2026. The chief executive pointed out that Vitalik Buterin’s blockchain-based software platform is up around 240%, while the primary cryptocurrency has seen an increase of around 38% since the beginning of 2021.

Green gave several reasons why Ethereum would flip Bitcoin as the most dominant digital asset. For example, he believes ether – the native token of the network – has a “higher level of real-use potential.” At the same time, Ethereum is the most in-demand development platform for smart contracts.

The enthusiasm among investors about the transition to ETH 2.0 is also an important factor. Green stated that the initiative would make the Ethereum network “considerably more scalable, sustainable, and secure.” DeVere Group’s founder also added that Bitcoin falls behind Ethereum in terms of technological improvements:

“Ethereum is more useful than Bitcoin and has tech advantages over its better-known rival.”

However, Green remained bullish on the primary virtual asset as well. He argued that Bitcoin would hit a new ATH by the end of the ongoing year:

“That said, I remain confident that Bitcoin will hit, or even surpass, its mid-April all-time high of $65,000 by the end of 2021.”

Nigel Green. Source: InternationalInvestments

Ethereum Gains Support Among Prominent Investors

The idea of Ethereum becoming the most dominant virtual asset has been circling in the crypto space since the blockchain platform showed impressive growth over the last several months. As such, many well-known names shared Nigel Green’s opinion.

For example, Todd Morley – co-founder of Guggenheim Partners – compared the utilization of the networks behind the top two digital assets. While he was short-spoken about Bitcoin, he praised the functionality and structure of Ethereum. According to him, the blockchain network behind the second-largest cryptocurrency “has a much higher utility through smart contracts.”

The BTC bull Mike Novogratz also hinted that such a scenario is possible due to the massive growth of the network behind ether. He commented, “I think Ethereum may even become the biggest cryptocurrency one day,” but it will have a “very different” use case than BTC.

Ethereum’s blockchain could be used “as the base level of trust – the Web 3.0, where things get built on top of it.” Nevertheless, he admitted that the blockchain software would face competition from other projects, like Polkadot and Solana. However, Novogratz believes Ethereum will ultimately prevail.

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