Goldman Sachs: Ether could overtake Bitcoin as store of value

Ether has the potential to become the dominant cryptocurrency as a means of storing value, surpassing bitcoin, thanks to its blockchain, according to Goldman Sachs.

 

According to a Business Insider report, the bank believes that the use of ether has the best prospects today, as it has the most popular platform for “smart contracts”.

 

A note by the American bank to its customers, although it appears optimistic about ether, states that cryptos are not superior to gold.

 

“Gold competes with crypto to the same extent as it competes with other risky assets, such as stocks and commodities. We see gold as a defensive cover for inflation and crypto as a cover for the sense of the risk of inflation.”

 

Goldman Sachs also said that competition between cryptocurrencies is an additional risk factor that does not allow the emerging new class of assets to be considered safe investments.

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