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Cryptobike Katie Wood thinks Ethereum is more undervalued than Bitcoin

Cryptobike Katie Wood thinks Ethereum is more undervalued than Bitcoin

The Bitcoin vs. Ethereum debate has been going on for years and has intensified as the market has grown. Pitting the top two cryptocurrencies against each other has become one of the most popular entertainment on the market. However, not everyone holds the view that they are competing.

ARK Invest CEO Katie Wood is known in the crypto space for voicing her opinion on Bitcoin, but Ethereum has largely stayed out of the conversation. Wood is known in the field mainly for her $500,000 BTC prediction, which she has reiterated at various times. According to Newsbtc, the CEO has always said that she believes Bitcoin is still severely undervalued and has a lot of growth ahead of it in the coming years. However, Wood noted that Ethereum's No. 1 altcoin is even more undervalued than Bitcoin. Wood appeared on CNBC's Squawk Box program and talked about the cryptocurrency market. On the show, the CEO stated that Ethereum is still severely undervalued. She showed this with the example of Bitcoin, the largest cryptocurrency on the market, which she believes is still severely undervalued. Wood explained that as undervalued as Bitcoin is, Ethereum is even more undervalued compared to it. One of the main reasons to invest in Ethereum was the usefulness of this digital asset. Decentralized Finance (DeFi) has been a huge success, despite being only a year old, and Ethereum is where most of DeFi's activity is centered. Wood confirmed the fact that DeFi has been a driving force behind the digital asset's success. “The fact that it is the platform or protocol for DeFi and for NFT tells us that it is even more undervalued than Bitcoin, simply because new worlds are growing out of it”. According to the CEO, Ethereum is still in its formative stages and has a long way to go, while Bitcoin has already established itself as a monetary system. She added that institutions are going to move more into DeFi and NFT, which “ll accelerate” its growth.

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