According to Odaily, the Industrial and Commercial Bank of China (ICBC), the largest bank globally, has acknowledged the benefits of Bitcoin over gold. The bank has highlighted Bitcoin's ability to solve the divisibility and portability issues associated with gold.
In a detailed analysis report, ICBC emphasized the rapid development and increasing diversity of digital currencies. The bank compared Bitcoin with gold, highlighting the former's advantages in terms of divisibility and portability. These features make Bitcoin a more practical asset for transactions and investments.
Furthermore, the bank has labeled Ethereum as 'Digital Oil', indicating its recognition of the growing importance and potential of this digital currency. This comparison suggests that Ethereum, like oil in the physical world, plays a crucial role in the digital economy.
These statements from ICBC reflect the growing acceptance and understanding of digital currencies in the traditional banking sector. It also indicates a shift in perspective, with major financial institutions now recognizing the potential and practicality of digital currencies like Bitcoin and Ethereum.