Bitcoin vs. Ethereum : 차이점은 무엇입니까?

00:00 Speaker A

A lot of investors speak to us and they say, what's the difference between Bitcoin and Ethereum? Why do both need to exist? And the reason is, is that they solve different problems. Bitcoin solves the problem of a digital store of value like gold. That's why many investors think of it like gold, as a fixed supply. Its price is based on supply and demand, and it's actually relatively simple from that perspective. Now, Ethereum is very different. The best way to think about Ethereum is as an operating system for crypto applications. Those applications are things like stable coins and asset tokenization, which investors are extremely excited about. Those the types of things that are built on top of Ethereum, in the same way that applications like Uber and Venmo and Instagram are built on top of Apple's operating system, or Google's operating system. So it really is a different kind of asset, a different kind of technology. Of course, fundamentally, this is all blockchain, but Bitcoin and Ethereum both solve different problems. That's why investors view them as two different things: Bitcoin like gold, Ethereum like a tech investment.

02:29 Speaker B

And you were mentioning how Ethereum is outpaced Bitcoin when it comes to some of those gains, and Bitcoin is still the most accepted cryptocurrency. But we didn't see it rally as much as Ethereum after Powell's speech last week. Why didn't we see that same pop in Bitcoin?

03:03 Speaker A

That's exactly right. Now, both of these are interest rate sensitive assets to some extent because macro factors do impact crypto investments. But Bitcoin is driven by slightly different fundamental fundamentals than Ethereum, and I think the rally in Ethereum is, perhaps, is more than that in Bitcoin because investors are now excited about this technology over the long term. And they see that interest rates could come down faster than people were expecting, given Powell's statements. And that means we're going to see more investment into these types of technologies, high-growth, highly disruptive technologies. I think investors are no longer hedging that fiscal uncertainty and financial uncertainty that the markets were trying to weather past week while holding positions like Bitcoin. And now they're saying, okay, look, we're starting to see light at the end of the tunnel from an interest rate perspective. That means we're going to see more capital investment into new types of innovative technologies, and Ethereum really fits that picture more than Bitcoin does.