Goldman Sachs “Ethereum Will Overtake Bitcoin Soon”


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Goldman Sachs, the world’s best investment bank, predicted that Ethereum, the second-largest cryptocurrency (virtual currency) in the market cap, is more promising than Bitcoin and will eventually overtake Bitcoin and become the number one cryptocurrency in the market cap.

Goldman Sachs predicted this in a leaked internal report.

In a report, Goldman Sachs said that bitcoin only deals with cryptocurrency, but Ethereum can also do other transactions, and Ethereum is rated as “the Amazon of information”. This means that the Ethereum network can contain much more information than Bitcoin.

While Bitcoin focuses on payment or transaction-related systems, that is, functions as currency, Ethereum provides scalability to transparently operate various applications such as contracts and emails, as well as transactions and payments.

In other words, it is a platform that allows anyone to create and use a decentralized application, called dApp (dapp) for short, not only for currency but also for other uses. The recently popular non-replaceable token (NFT) is also based on Ethereum.

Most importantly, Ethereum consumes much less electricity than Bitcoin.

Accordingly, Goldman Sachs predicted that it would be a matter of time before the market cap of Ethereum overtakes Bitcoin.

As of 9 a.m. on the 25th (Korean time), Ethereum is trading at $2695 on CoinMarketCap, a global cryptocurrency market relay site, up 24.81% from 24 hours ago. By comparison, Bitcoin is trading at $39,015, up 10.34%.

As of the day, the market cap of Bitcoin is in the first place with 7298 billion dollars, and Ethereum is running second with 3121 billion dollars.

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