According to Odaily Planet Daily, cryptocurrency investment institution 1confirmation released its LP letter for the second quarter of 2024. Founder Nick Tomaino stated in the letter that Ethereum's market value will exceed Bitcoin in the next five years.
Currently, Bitcoin’s market capitalization is four 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 few outsiders know much about it. Ethereum is scarce, generates revenue, and has real use cases. Since its market cap is now significantly smaller than Bitcoin, Wall Street can own more.
Expect Wall Street to keep buying in and aggressively promote Ethereum to the world in the coming years.
