Cryptocurrency investment institution 1confirmation published its Q2 2024 LP letter, in which founder Nick Tomaino stated that Ethereum's market value will exceed Bitcoin in the next five years. Bitcoin's market value is currently 4 times that of Ethereum, and both will continue to grow, but Ethereum will eventually surpass Bitcoin. Nick Tomaino explained that Bitcoin has a clear narrative (digital gold), and institutions have now accepted that narrative. Ethereum has been the most influential blockchain in the crypto space for the past five years, but people (outside the circle) know very little about Ethereum. Ethereum is scarce, generates income, and has real use cases. Because its market value is now significantly smaller than Bitcoin, Wall Street is able to own more. Wall Street is expected to continue to buy and vigorously promote Ethereum to the world in the coming years.
