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