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Tom Lee: Ethereum Could Surpass Bitcoin – A Comparison to Gold and Stocks
Tom Lee, the CEO of BitMine, believes that Ethereum has more potential than Bitcoin, drawing parallels to the 1970s when stocks overtook gold as the preferred investment. He suggests that a long-term "flippening" of Bitcoin by Ethereum is possible, similar to how financial products transitioned the US dollar to a dominant currency after the gold standard was abandoned.
Lee describes Bitcoin as "digital gold"—scarce and value-retaining but unproductive—while Ethereum serves as the technical foundation for a growing blockchain economy. He emphasizes that the rise of smart contracts, DeFi applications, and the tokenization of real assets could create a productive market that attracts capital and businesses.
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"The dollar dominance of blockchain is an opportunity for Ethereum," Lee stated, although he refers to his assessment as a "working hypothesis."
Currently, Bitcoin is valued at approximately four and a half times that of Ethereum, with the Flippening Index at about 21%, significantly lower than previous highs of around 50% in 2021 and 2022, or over 80% in 2017. Despite this, Lee sees signs of a potential market shift due to Ethereum's technical advancements and increasing institutional interest.
As of now, BitMine holds around three million Ether, valued at over $11 billion, which may influence Lee's perspective.
Key Takeaways:
- Tom Lee sees Ethereum potentially surpassing Bitcoin, akin to stocks overtaking gold.
- Ethereum's growth is driven by smart contracts and asset tokenization.
- Current Bitcoin to Ethereum value ratio is approximately 4.5:1.
Source: BTC-ECHO
Market Movements of Bitcoin, Dogecoin, Ethereum & Co.
As of 09:40, the price of Bitcoin stands at $106,824.83, reflecting a decrease of 0.33% from the previous day's value of $107,181.17. The top 10 Crypto-ETP, which aggregates major cryptocurrencies, is also down by 0.5%, currently priced at €14.86, with a performance of 61.2% since its inception.
Litecoin has seen a slight increase of 0.20%, now priced at $91.87, while Ethereum has decreased by 0.09% to $3,886.27. Bitcoin Cash has dropped by 1.48% to $461.30, and Ripple has fallen by 0.40% to $2.351.
| Cryptocurrency | Current Price (USD) | Change (%) |
|---|---|---|
| Bitcoin | 106,824.83 | -0.33 |
| Litecoin | 91.87 | +0.20 |
| Ethereum | 3,886.27 | -0.09 |
| Bitcoin Cash | 461.30 | -1.48 |
| Ripple | 2.351 | -0.40 |
Other cryptocurrencies like Monero and Dash have shown positive movements, with Monero increasing by 1.32% to $311.95 and Dash gaining 0.69% to $42.88. Conversely, NEO has decreased by 0.26% to $5.048, while IOTA and Cardano have remained relatively stable.
Key Takeaways:
- Bitcoin is currently priced at $106,824.83, down 0.33%.
- Litecoin and Monero are experiencing slight increases.
- Ethereum's price is $3,886.27, reflecting a minor decrease.
Source: finanzen.net
Sources:
- Tom Lee: Ethereum könnte Bitcoin überholen – wie Aktien einst Gold
- Bitcoin, Dogecoin, Ethereum & Co. am Vormittag
- So bewegen sich die Kurse von Bitcoin, Ripple, Bitcoin Cash und Ethereum am Samstagvormittag
- Ethereum unter Druck: Kryptowährung an entscheidendem Kursniveau
- Ethereum: Nerven flattern!
- Sharplink sichert sich $76,5 Millionen zur Erweiterung der Ethereum-Treasury
