Frank Holmes, CEO of U.S Global and president of Hive (a company focused on mining), was interviewed by Kitco News and made a point of comparing the link in the prices of Ethereum and Bitcoin in parallel with silver and gold.
Holmes defends and believes that the price of Ethereum will rise in line with the upward trend of bitcoin, despite the lack of a maximum number of ETH coins.
HIVE, now one of the largest listed mining companies on the stock exchange, operates mining not only ETH but also Bitcoin (BTC). The company's shares have grown 695% in the last twelve months.
Still on the comparison of coins and ores, he clarifies that the price of Ethereum seems to move according to the price of Bitcoin, just as silver fluctuates according to the price of gold:
**When gold – on a 50-day moving average – rises by 15 to 20%, silver suddenly rises by 30%. Ethereum is to Bitcoin what silver is to gold. Bitcoin goes up a lot, and suddenly the Ethereum explodes upward. **
Holmes is not concerned about the lack of maximum number of Ethereum on the market, as with Bitcoin, because this demand is great according to use cases:
Ethereum has many more uses than Bitcoin, in the same way as silver (in relation to gold)(...) 20% of the demand for silver is for solar energy. It has a green footprint; viruses do not live in silver, it has many uses in medicine. Same thing with Ethereum; it is used for DeFi, for NFTs(...). Holmes not only made a plausible link between the price of asset pairs, he also shows that they are similar in their uses.
For him, the reason the company has one of the biggest profits is because they mine both BTC and ETH. Showing up positive with Ethereum even with competition from gamers and users who usually use their video cards to mine the currency.
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Source: The next coin to explode is Ethereum, here's why - Frank Holmes
Hello, @guedeso
This is @fionasfavourites from the @ocd (Original Content Decentralized) curation team. We noticed you shared your first post here on Hive - congratulations and welcome! It would also be awesome if you could do an introduction post, so our community can get to know you better. For an example of what an intro post is like, you can check out this one by my friend & curation team member - Keeping Up With the Buzz – My Introduction to the Hive Community.
Speaking of community, we have many different ones here on the blockchain, devoted to all kinds of interests. Here's a link so you can check them all out – Hive Communities.
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Also since you're new, you may run into an RC (Resource Credits) error when trying to comment/post because you don't yet have enough Hive in your account yet. For assistance with a temporary delegation to get you started, be sure to check out the Gift Giver site.
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