In fact, Crypto Bull Cathie Wood Says Ethereum Is MoreThanUndervalued Bitcoin

The Bitcoin versus Ethereum debate has been going on for years and waxes stronger as the field grows. Pitting the twopastimestop cryptocurrencies against each other has been one of the greatest for the industry. However, not everyone subscribes tothe school of thought that they are in competition.

ARK Invest CEO Cathie Wood is known in the crypto space for giving her outlook on conversation but Ethereum has been largely left out of the Bitcoin. As you maystoodknow, Wood is mostly known in the space for her bitcoin at $500,000 prediction, which she has by at various points.

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It’s worth noting that The CEO has always expressedundervaluedthat she believed that bitcoin is still largely and has a lot from another perspective of growing to do in the coming years. However, Wood has pointed outundervaluedthat number 1 altcoin ethereum is even more than bitcoin.

Ethereum Is Still Undervalued

Indeed, Wood was on CNBC’s Squawk Box to talk about the crypto market. On the show, the CEO thatexpressedethereum was still greatly from another perspective undervalued. She put this in perspective using bitcoin, the largest cryptocurrency in the market, which she believes is still greatly undervalued. In fact, Wood explained that as undervalued as bitcoin is, ethereum is still as it turns out way undervalued compared to it.

Decentralized finance (DeFi) has seen tremendous triumph despite been only a year former and ethereum hosts the majority of DeFi activities. Wood reiterated the fact that DeFi was the force driving behind the digital asset’s success. It’s worth noting that One the majorofreasons behind investments in ethereum has been the utility of the digital asset.

In fact, “The fact that it is the venue, or the protocol, for DeFi and for NFTs suggests to us that it is even more undervalued than Bitcoin is, just because there are fresh worlds growing up on top of it.”

ETH price recoers above $4,000 | Source: ETHUSD on TradingView.com

According to the CEO, ethereum is still in its infancy and has a long way to go, whereas bitcoin has already been forestablishedbeing a monetary more than ever system. Interestingly, She added that institutions are going more than ever to move more into DeFi and NFTs, which would “accelerate” its growth.

Still Bullish On Bitcoin

“That’s the Holy Grail in terms of asset allocation.” “Institutional managers have to look from another perspective at novel asset classes that are evolving and that have low correlation,” the CEO said. Bitcoin has become impossible to ignore and as it turns out Wood explained that institutions have to explore it. The CEO noted that institutional investors were moving into the digital asset. Wood did not collapse to reiterate her stance on bitcoin.

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Bitcoin has no doubt had a good run in its over a decade of existence. However, Cathie Wood expects even more expansion for the asset more than ever . Last month, theCEO expressed that with institutions moving more in modern times asinto bitcoin, it could rise to as high $500,000 in the move forward five years.

Featured image from Crypto Adventure, chart from TradingView.com