The world's largest bank supports Bitcoin and Ethereum!
In a recent report, the world's largest bank, Industrial and Commercial Bank of China, listed Bitcoin and Ethereum as the largest cryptocurrencies.
ICBC defines BTC as "digital gold" and ETH as "digital oil", and points out that cryptocurrencies such as Bitcoin and Ethereum are growing very fast.
The bank compared Bitcoin to gold, saying that "Bitcoin solves the problems of gold being difficult to divide, difficult to determine its authenticity, and inconvenient to transport, while also maintaining gold-like scarcity through mathematical consensus."
The bank then described Ethereum as "digital oil". The bank believes that ETH plays an important role in providing strong support for many Web3.0 innovations, including the launch of stablecoins, and stated in the report:
"Ethereum provides technical power for the digital future by continuously improving its security, scalability and sustainability technology.
In addition, the launch and development of stablecoins provide a bridge for the connection between the digital currency market and the real world."
"Chinese state-owned banks continue to highly value Bitcoin and Ethereum," said Matthew Sigel, manager of digital asset research at VanEck, speaking about the latest report on Bitcoin and Ethereum by ICBC of China.
*This is not an investment advice.
