At present, the market value of Bitcoin is more than twice that of Ethereum, but in May, the market value gap between the two narrowed by about $350 billion.
The holders and fans of Ethereum point out that Ethereum has various financial service ecosystems based on blockchain technology and its unique value for digital collection (NFT). At the same time, the Ethereum is being upgraded, and the upgraded digital currency can improve the network efficiency and greatly reduce the mining cost.
Blockchain company Edge &；; Gunter Klein, co-founder of Node, said that the market value of Ethereum may surpass Bitcoin at some point in the future, because Ethereum will have an advantage in innovation and developer interest. However, she also said that investors should reasonably allocate the proportion of funds allocated between Bitcoin and Ethereum digital currency.
Earlier, Cathie Wood, a strategist at Goldman Sachs and "Sister Wood", expressed her interest in Ethereum. More broadly, people's interest in Ethereum has surpassed that of Bitcoin. CoinGecko's data shows that the share of Bitcoin in digital currency market has dropped from 70% at the beginning of 2002/Kloc-0 to 42% at present.
Mikhail Sprogis and Jeff Currie, commodity strategists at Goldman Sachs, wrote in a report last week that the first-Mover advantage of Bitcoin seems to be "very fragile", and it is likely that Bitcoin will eventually lose its "crown" in digital currency, while digital currency is the currency with the most practical use and technical flexibility.
They also think that Ethereum seems to be the most likely candidate token to surpass Bitcoin, but this conclusion is far from confirmed. They added that the limited annual supply growth of Ethereum helped it become a real proof of value storage.
Pat LaVecchia, CEO of Oasis Pro Markets, a digital currency brokerage firm, believes that in the long run, Ethereum is beginning to be seen as "a better growth story".
Even so, there are still many people who still support Bitcoin and think that Bitcoin will repel all other competitors and stay ahead.
Andrew Kiguel, CEO of Tokens.com, believes that Bitcoin still has the "best external verification signal" and will remain the king of digital currency, because institutions and tycoons such as Musk have been supporting Bitcoin.
Edward Moya, senior market analyst at Oanda, said that the leading edge of Bitcoin is too great for Ethereum to catch up. After all, the former has a big advantage, that is, the fixed supply of Bitcoin is only 2 1 10,000 pieces, which also makes Bitcoin unable to really depreciate.
In any case, under the huge increase of Ethereum relative to Bitcoin, the debate between Bitcoin and Ethereum will continue.