JP Morgan Sings ETH's Praises
Happy Wednesday, Blockfolians
The Lede
Well, JP Morgan may have had their upcoming Bitcoin product revealed this week, but that didn’t stop them from also singing the praises of ETH in their latest research report.
The report is called “Why is ETH Outperforming?” and man, just look at this summary:
"BTC is more of a crypto commodity than currency & competes with gold as a store of value, whereas ETH is the backbone of the crypto-native economy. To the extent owning a share of this potential activity is more valuable...ETH should outperform BTC over the long run" - JP Morgan
Get ready for more and more discussion about ETH as a macro asset. Right now, it feels inevitable.
Things move faster than the speed of light in crypto adoption....
Michael Tant @MichaelTant3
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Community Commentary
This is a good debate
correct. pandering to institutions is a pointless exercise.
individuals > institutions https://t.co/Z1ae432e4y
Ben Hunt @EpsilonTheory
More good thoughts on Tesla’s Bitcoin sale
A short thread on TSLA selling 10% of their BTC.
The sale "in order to demonstrate liquidity," is a totally legitimate action on their part. It looks as if this move may have been pre-meditated by @elonmusk to de-fang shareholder derivative lawsuits.
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A Really Big Number We Should Be Paying Attention To
4500%
That’s how up Dogecoin mining is this year