- Scott Melker shares his opinion on Bitcoin and Ethereum.
- He also spoke about ETH’s recent Shanghai upgrade.
- BTC and ETH are now up about 80% for the year.
Investors are now curious to know which one of Bitcoin and Ethereum is a better investment.
Pro says BTC and ETH are two distinct assets
Nevertheless, crypto expert Scott Melker does not think it necessary to compare the two since they are more like two very different fruits. Speaking with Yahoo Finance Live, he said:
I view Bitcoin as digital gold. Store of value, flight to safety. Ethereum is more of a tech investment. It’s internet of value. So, you can love one or both. You don’t have to choose.
The ongoing surge of Bitcoin and Ethereum may be due to the monthly CPI print that showed inflation was still higher than the Fed’s 2.0% target in March.
Both BTC and ETH have risen by around 80% since the start of the year.
Melker’s opinion on Ethereum’s Shanghai upgrade
Ethereum has been in the spotlight since last month’s Shanghai upgrade which enabled holders to withdraw their assets for the first time.
Discussing the hard fork on Yahoo Finance Live, Melker who hosts “The Wolf of All Streets” podcast said:
It’s a huge development for ETH, major step in right direction. There hasn’t been huge demand to withdraw. There are a lot of people actually waiting to deposit. We’re seeing net inflows.
Ethereum co-founder Vitalik Buterin recently stressed the importance of solving scaling issues before the next bull run.