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Ethereum is outperforming bitcoin because its a technology bet rather than a bet on inflation, says crypto bull Mike Novogratz
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Ethereum is outperforming bitcoin as the latter becomes less attractive as an inflation hedge in the face of the Federal Reserve's hawkishness going into 2022, said Galaxy Digital CEO Mike Novogratz in an interview on Wednesday.
With a fixed supply of 21 million, many investors have long seen the world's biggest cryptocurrency as a hedge against inflation, especially in the face of unprecedented easy money policies intended to keep the economy afloat during the COVID-19 pandemic. That could be challenged, however, as the US central bank turns hawkish to combat inflation next year.
Speaking on CNBC, Novogratz said that as bitcoin loses some of its appeal as a hedge against a devalued currency, ethereum is
Read more on markets.businessinsider.comAbout this in other media
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