The biggest Altcoin Ethereum (ETH) has received much criticism for its poor performance against Bitcoin (BTC) and its failure to surpass its previous ATH.
Nevertheless, some analysts say they still maintain bullish expectations for Ethereum, while industry experts have released a comprehensive report on Ethereum.
The report was contributed by 21 notable figures including Consensey founder and Ethereum co-founder Joseph Rubin, Ether co-founder Vivek Raman, Danny Ryan, Grant Hommer and Ether.fi founder and CEO Mike Silagadze.
Therefore, prominent Ethereum supporters argued that ETH was seriously underestimated.
Key Ethereum technology experts and industry figures say in the “ETH bullish case” report that ETH is significantly undervalued and could reach $740,000 per token in the long run.
Ethereum is not merely valuable, and the report states, “ETH is a reserve asset that feeds fuel, collateral and future financial systems.”
“ETH is a digital oil that strengthens the financial digital economy. And it's been significantly wrong.”
The report said ETH should secure assets worth $767 billion, and that ETH should be positioned not only as a technology stock but as a fundamental layer of the chain economy.
Vivek Raman, co-founder of ETH think tank Etherealize, said it was right to more accurately reflect and compare ETH with global reserve assets such as ETH, bonds and M2 money supply to more accurately reflect the possibilities of ETHEREAM.
Raman added that the ultimate adoption of ETH could rival or even surpass the transformational impact of the Internet.
“Ethereum is becoming an essential asset at the heart of the digitally native financial system.
Simply put, ETH is a digital oil. Once adopted, it becomes the same size as the Internet and even larger.
At this point, lagging behind the BTC is not a structural weakness, but a false price. ”
They focused on Bitcoin and overlooked Ethereum!
Joseph Lubin, co-founder of Ethereum, compared Bitcoin to Ethereum.
“Institutional investors are very focused on Bitcoin and its story, overlooking assets with much greater growth potential.
Not only does ETH share the same value property stores that made Bitcoin popular, it also has a wide range of utilities, offers more predictable rarity, provides stable returns, and becomes the ultimate productive reserve asset.
As Ethereum further establishes itself as the backbone of the digital economy, ETH becomes even more essential. ”
*This is not investment advice.
