Speaking to Kitco News, Holmes attributed his projection to the increasing use cases of Ethereum in the crypto and the financial world, citing the asset’s smart contract feature. He compared Ethereum’s more use cases to silver. At the same time, he acknowledged that the Bitcoin and Ethereum rise mirrors the same phenomenon around gold and silver. On the flip side, Holmes believes that Ethereum migration to the proof of stake might be the biggest concern. He notes that the upgrade resulting in a supply shrink wouldn’t stop the demand and people mining it.
Bitcoin remains a key player
While projecting Ethereum’s rise in the future, he stated that Bitcoin remains a formidable player considering it is a store of value. He said that Bitcoin’s role stands out considering it can facilitate money transfer immediately and cheaply compared to traditional transfers. According to Holmes, the current Ethereum mining is more decentralized around the world than Bitcoin miners are. Furthermore, Holmes called on young investors to aggressively invest in Bitcoin and Ethereum while discouraging them from putting money into gold. According to Holmes, gold is meant for old conversant investors. [coinbase]
