No paywall: https://archive.is/ivgDJ
Bitcoin stands alone in its use case. It has no competitor in digital assets. This has been reflected by statements from finance leaders like Blackrock’s Larry Fink, Crypto Czar David Sacks, and Strategy CEO, Michael Saylor. Bitcoin aims to be one thing, and it does it well. Institutions flock to economies and assets that are consistent and predictable. Bitcoin growth of hashrate, institutional buyers, distribution, and price all trend positively and consistently. The existing scale of the asset and the remaining upside of global adoption make BTC a far better risk-weighted investment than ETH. This can be seen in both measures of network growth and how the asset trades statistically. ETH and its competitors are essentially speculative tech startups fighting for market share. The issue for ETH and its leadership is that everyone but them seems to know that.