Galaxy Digital CEO, Mike Novogratz, has made a somewhat bold statement in comparing Bitcoin (BTC) and Ethereum (ETH), saying that the latter is more likely to be used in the online payments space. Novogratz made the remark in a keynote speech at the 2019 Ethereal Summit.
Novogratz said that the upcoming Web 3.0, a term used to describe a decentralized internet, could see Ethereum playing a prime role. He said,
There’s good news and bad news…the good news is that Ethereum is way ahead. Ethereum, by a long shot, has the most people in the room.
Speaking of Bitcoin, he said,
Bitcoin is really establishing itself as a store of value. The debate is over. We won. I see the on-ramps for institutions who now believe its a store of value who are coming in Bitcoin is going to stay for a while because that’s where the institutions are going to start.
Novogratz also said that nothing was really being built on the Litecoin (LTC) network, and that investors ought to buy Bitcoin but sell Litecoin.
Gold has an $8.5 trillion dollar market cap. Silver is $15bn That is .17%. $BTC has a $90bn mkt cap. $ltc is $5.7bn which is 6.4% of $BTC. Silver is at least useful for industrial production. $ltc is a glorified test net for $btc. I don't get this rally. Sell $ltc buy $btc.
— Michael Novogratz (@novogratz) April 3, 2019