The report titled “Inherent Value” looks at scenarios for how bitcoin could replace the USD, become digital gold, and also talks about NFTs and crypto-assets.
Leading social investment network eToro has released its Q2021 report in partnership with The Tie, a leader in the field of providing alternative data in digital assets. The report looks at three pressing and relevant issues, which are
- The Pathology of Hyperinflation
- NFTs, beyond the hype
- Which category of coins is the best
The main points of focus are hyperinflation and bitcoin’s role in such a scenario, NFTs and understanding the hype around them, and an analysis of which category of coins are the best.
Important Topics To Address
Guy Hirsch, US Managing Director at eToro, stated that he feels more investors will enter the market, looking at bitcoin and Ethereum reaching new highs regularly.
“So we felt these were important topics to address to help new and existing crypto investors understand some of the factors that helped get bitcoin to its current position, the excitement behind NFT’s, and offer an alternate way to look at various assets; before investing.”
What The Report Talks About
The report addresses three main topics.
- Bitcoin and gold, could bitcoin replace gold? – This scenario could potentially already be underway, thanks to developments in the DeFi and NFT space, and continued interest in Bitcoin as an asset. Investors will have to shift from valuing physical goods to valuing digital goods.
- The hype with NFTs – NFTs have proven that crypto and blockchain technology can change the world.
- Categorizing coins in different sectors – Coins were organized into different categories to better understand and review the coins and learn how each sector performs and the growth drivers.
Altcoins Stepping Into The Limelight
According to Joshua Frank, CEO of The Tie, Bitcoin has continued to dominate the markets, but the previous quarter saw the emergence of NFTs and a return to altseason.
“Bitcoin dominance fell significantly as retail and crypto-native institutional investors turned to alts attracted by the prospect of massively outsized returns. Similarly, NFTs surged, achieving mainstream adoption faster than anyone in the space thought possible. While I remain skeptical that the NFT wave will continue at this pace, I think market conditions remain extremely bullish for altcoins relative to Bitcoin as money continues to pour into crypto in record amounts.”
About eToro
eToro is an investment platform that enables people to grow their wealth and knowledge and become part of a global community of successful investors. Founded in 2007, eToro hopes to open up international markets, giving everyone the ability to trade easily and transparently.
eToro currently has a user base of over 20 million registered users, sharing their investment strategies. The ease of use of the platform also allows users to easily buy, sell and hold their assets, and monitor their portfolio, all in real-time.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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