1confirmation: The market value of Ethereum will surpass that of Bitcoin within five years, and Wall Street will vigorously promote ETH to the world

ChainCatcher news, cryptocurrency investment firm 1confirmation has published its Q2 2024 LP letter on social media, in which founder Nick Tomaino stated that Ethereum's market capitalization will surpass Bitcoin's in the next five years. Currently, Bitcoin's market capitalization ($1.2 trillion) is four times that of Ethereum ($321 billion), and both will continue to grow, but Ethereum will ultimately exceed Bitcoin.

Nick Tomaino explained that Bitcoin has a clear narrative (digital gold), and institutions have now accepted this narrative. Ethereum has been the most influential blockchain in the crypto space over the past five years, but people (outside the circle) know very little about Ethereum. Ethereum is the chain on which the world's most talented developers are building a decentralized internet, and ETH is the digital oil that powers it. Ethereum is scarce, generates yield, and has real use cases. Given its market capitalization is now significantly smaller than Bitcoin's, Wall Street can acquire more. It is expected that Wall Street will continue to buy in and vigorously promote Ethereum to the world in the coming years.