Mike Novogratz: Bitcoin can only prevent inflation, Ethereum is more attractive.

ETHer (ETH) has outperformed Bitcoin (BTC) this year and appears to have outperformed Bitcoin in a strong rally after a sell-off in recent months. Michael (Mike) Novogratz, former hedge fund manager at Goldman Sachs and founder and CEO of cryptocurrency bank Galaxy Digital, thinks he knows what is behind him.

In a recent news interview, Michael Novogratz shared his hopes for Ethereum's future. He pointed out that Ethereum is now a better investment option than Bitcoin. Since Bitcoin is primarily used as a hedge against financial risk, other electronic transactions are restricted, but Ether investments can be used as a bet on ancient urine technology.

Ethereum, after Ethereum, can be used not only to deliver smart contracts, but also to build legitimate applications (Dapps). Ethereum is a programmable blockchain network that can be used in many places, including financial management (DeFi) and non-standard tokens (NFT). Michael Novogratz said: This is why we see Ethereum better than Bitcoin. People see Ethereum as a bet on technology and Bitcoin as a bet on reducing the value of fiat money.

Confirmation that Ether will replace Bitcoin and become the premier crypto currency has been around in the fiat world for some time, but it wasn't until this year that Ether started to challenge Bitcoin. Although Bitcoin is now the largest cryptocurrency, its value has only increased by 70% (in US dollars) this year, which is well above Ethereum, which has increased by almost 500% in same time.

Michael Novogratz said a few months ago that while Bitcoin should be considered the digital version of gold over the next 3,000 years, Ethereum has taken on many different uses and will become the best cryptocurrency.

A billionaire trader known for supporting the cryptocurrency market also commented on his take on the recent cryptocurrency market crash. He doesn't expect Bitcoin's value to drop below $ 40,000 as companies and some countries have come to understand Bitcoin's potential investment.

People have come to see that cryptocurrencies are class assets and that Bitcoin has a place in cryptocurrency data.

In July of this year, an analyst at Wall Street investment bank Goldman Sachs also said Ethereum was a blockchain project with the potential to be the best. Ethereum is currently the most popular contract application platform. While Bitcoin is at its best, that cannot stop Bitcoin from lagging behind other cryptocurrencies.

NBA Dallas Mavericks owner Mark Cuban is another Ether-haired trader. He said new entrants just to enter the cryptocurrency market might choose Ether as their investment because of the world's second largest cryptocurrency potential.