Ether could overtake Bitcoin as the dominant digital store of value in the coming years, according to Goldman Sachs in a recent customer announcement.
Wall Street once almost completely disdained the crypto scene. But now more and more support is spreading among the long-established institutions. Just last month, the US investment bank Goldman Sachs announced that it would add derivative products for Ethereum (ETH) to its portfolio, in addition, to support Bitcoin. On Tuesday, the bank also published a customer announcement confirming Ether’s potential to become the dominant digital store of value in the years to come.
Goldman Sachs highlights the benefits of smart contracts:
Goldman Sachs shared its view on the outlook for bitcoin and ether in a note published Tuesday. The investment bank’s analysts reportedly argued that ether’s real use cases could make the cryptocurrency the dominant digital store of value, overtaking bitcoin as the top cryptocurrency. They wrote: “[Ether] currently looks like the cryptocurrency with the highest real use potential as Ethereum, the platform on which it is the native digital currency, is the most popular development platform for smart contract applications. “
Bitcoin is currently still benefiting from its status as a “first mover”. However, ether has many advantages in use, not least due to its immensely high transaction speed.
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