In the cryptocurrency space, investors are trying to answer the question: Bitcoin or Ethereum?
Despite their volatility, cryptocurrencies are garnering a lot of attention for a variety of reasons — inflation being one of them.
And money is pouring back into these assets after a recent setback.
Bitcoin, the most popular cryptocurrency, recently hit $50,000, something it hasn’t done since May. The second-most popular, ethereum, reached $3,200, which it hasn’t done since May.
But not all cryptos are created equal. Before you invest, you need to know what makes each cryptocurrency unique.
In this episode of The Bull & The Bear, I’ll tell you the differences between Bitcoin and Ethereum and which one makes the better investment for you.
Why Cryptocurrencies Like Bitcoin or Ethereum Are Popular
There’s no denying that cryptocurrency has become one of the most popular investments in recent years.
Crypto Market Cap Skyrockets
According to data from CoinMarketCap.com, the overall market capitalization of all cryptocurrencies grew 11,926% from 2017 to today. For just the third time since 2010, that market cap rose above the $2 trillion mark in early August.
One of the biggest reasons for its popularity is that cryptocurrencies, in theory, have reliable, long-term store of value.
Most cryptocurrencies have limited supply capped by algorithms, which means government agencies like the Federal Reserve can’t dilute their value with inflation as it does with the U.S. dollar.
There are differences between Bitcoin and Ethereum, and I’ll explain those differences and how you should invest in this week’s podcast.
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The Bull & The Bear
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Safe trading,
Matt Clark, CMSA®
Research Analyst, Money & Markets
Matt Clark is the research analyst for Money & Markets. He is a certified Capital Markets & Securities Analyst with the Corporate Finance Institute and a contributor to Seeking Alpha. Prior to joining Money & Markets, he was a journalist and editor for 25 years, covering college sports, business and politics.