As per the latest report of the Business Insider, prominent US-based investment bank Goldman Sachs believes that Ether (ETH) has the potential to overtake Bitcoin (BTC) as the leading crypto via store of value. The multinational bank states that ETH’s use cases currently have the greatest potential, evidenced by its present stature as the go-to platform for smart contracts development.
Goldman Sachs’ analysts note that BTC’s first-mover advantage does indeed establish it as a stronger brand. That being said, the bank firmly believes that it currently lacks some of the use cases already present in ETH. On top of that, BTC transaction speeds are apparently lagging compared to ETH, says Goldman Sachs. The bank then added that BTC’s over-focus on network security and hard money rendered it a tad lower than ETH in terms of functionality.
Notably, despite being the younger network among the two, Ethereum has grown faster than Bitcoin. As per this year’s analytics report, Bitcoin grew by 261% while ETH almost triples it – going up by more than 856%.
Interestingly, Goldman Sachs’ note came a month after its Investment Strategy Group analysts warned its clients that cryptos aren’t yet “investible” asset classes. They stated that the inherent potential of the digital asset ecosystem to revolutionize the future does not necessarily mean that cryptos are already an investible asset class.