Bitcoin or Ethereum? – Why Peter Schiff’s pick may surprise you
Main Idea
Peter Schiff reaffirms his preference for Bitcoin over Ethereum despite Ethereum's recent rally, citing long-term conviction, while market data shows shifts in dominance and institutional investment favoring Ethereum.
Key Points
1. Peter Schiff maintains his stance on swapping Ethereum for Bitcoin, despite Ethereum's recent price rally, due to his long-term conviction in Bitcoin.
2. Ethereum's price rose 1.14% to $4,213.86, while Bitcoin climbed 0.96%, but the ETH/BTC ratio declined by -2.57%, indicating Ethereum weakened against Bitcoin.
3. Institutional investment in Ethereum ETFs ($461.0 million inflows) surpassed Bitcoin ETFs ($403.9 million inflows), suggesting growing Ethereum exposure demand.
4. Bitcoin's market dominance dropped to 59.1% (down 4.91% monthly), while Ethereum's share increased to 13% (up 3.34%), with other cryptocurrencies holding 28% of the market.
Description
Even without holding crypto, Peter Schiff is confident Bitcoin will outshine Ethereum- Here's why.
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