Scott Melker shares his view on Bitcoin and Ethereum.
He also discussed ETH’s recent Shanghai upgrade.
BTC and ETH are currently up about 80% for the year.
Both Bitcoin as well as Ethereum have pushed hard to the upside in recent sessions – leaving investors wondering which of the two is a better investment.
Pro says BTC and ETH are separate assets
Interestingly, though, crypto specialist Scott Melker doesn’t see it fair to compare the two since they’re more like apple and oranges. Speaking with Yahoo Finance Live, he said:
I view Bitcoin as digital gold. Store of value, flight to safety. Ethereum is more of a tech investment. It’s internet of value. So, you can love one or both. You don’t have to choose.
Part of the reason for the ongoing surge in Bitcoin and Ethereum may have been the monthly CPI print that confirmed inflation was still well above the Fed’s 2.0% target in March.
Both BTC and ETH are currently up about 80% for the year.
Melker’s take on Ethereum’s Shanghai upgrade
Ethereum, in particular, has been in news since last month because of its so-called Shanghai upgrade that enabled holders to unstake the assets for the first time.
Discussing the hard fork on Yahoo Finance Live, Melker who hosts “The Wolf of All Streets” podcast said:
It’s a huge development for ETH, major step in right direction. There hasn’t been huge demand to withdraw. There are a lot of people actually waiting to deposit. We’re seeing net inflows.
Also recently, Ethereum co-founder Vitalik Buterin reiterated the need to fix scaling issues before the next bull run.
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