Bitcoin Watch – Tetras Capital backs Bitcoin and squashes theory Ethereum could take over

New York based Tetras Capital, has published a “Bearish Thesis” on Ethereum, claiming there is a low probability of ETH ever taking over Bitcoin. The report makes a few clear claims which basically gives Ethereum the thumbs down:

“We believe that ETH’s current price is still significantly overvalued; still significantly decoupled from the Ethereum network’s current and near-term technological state. Our research has led us to believe that the market and technology is still far too immature to justify current valuations. This nascent asset class has taken off due to speculative narratives, and we believe that the current marketplace is not sophisticated enough to properly evaluate risks or general economic concerns.”

“We believe ETH lacks the crucial characteristics required for a dominant SoV, and we see a low probability of ETH taking the reign from the current crypto-asset leader, BTC — let alone from incumbent globally dominant assets like the USD and Gold.”

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