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The CEO of Real Vision believes that Ethereum is superior to Bitcoin in terms of community attention and large investors.
Ex-manager of Goldman Sachs Raul Pal (Raoul Pal) said that he used to be of the opinion about bitcoin as a widely used and most effective crypto asset. Now for the head of Real Vision, the main cryptocurrency is ether. Pal explained that he was convinced of the benefits of Ethereum by observing the changes taking place in the institutional investor environment:
“When my views on bitcoin changed significantly, I didn’t stop thinking of it as an asset, but I started thinking in terms of the network and the community. If the community is not attracting new people, and the network’s job is to attract new members, then the network will work worse.
For Pal, this idea was new, as he had previously believed that the large Bitcoin blockchain was much more attractive to large investors. But now he began to notice that for institutional investors, bitcoin is no longer the only serious asset.
“Literally every other day I’m talking to the world’s largest financial institutions who put me in front of their investment committees to tell them about cryptocurrencies and how to invest. I have always been interested in bitcoin. Can we take bitcoin to balance? How should we invest in bitcoin? What diversification? Gradually, they began to become interested in Ethereum as a technological platform where applications can be deployed. Then they became interested in DeFi, and now they are asking how we can participate in Web 3.0?
The former Goldman Sachs executive argues that Ethereum’s ability to generate network effects, combined with its technical capabilities, makes it a great investment, equivalent to investing in the Internet in its early stages of development.
Recall that next week, Ethereum developers will launch the Kiln test network, which will be the last one before the main network switches to the Proof-of-Stake (PoS) algorithm. Blockchain analytics service IntoTheBlock reports that 18.36 million new addresses with a positive balance were registered on the Ethereum network in 2021. Social networking site Twitter announced in February that it added support for ethereum payments to reward users who previously only supported bitcoin.
#Watching #institutional #investors #chose #Ethereum
