However, Tomaino believes there is an ongoing shift in Bitcoin’s neutrality and decentralization due to the influx of institutional investors in recent years. The 1confirmation founder said:
Store of value based on trust in math rather than trust in people is world-changing, but BTC is now the institutional asset of choice for large companies and governments. One entity owns over 2.5% of it.
Tomaino also criticized Bitcoin’s limitations in smart contract programmability, thereby limiting the amount of useful applications it can offer the populace.
According to the 1confirmation founder, all the new crypto use cases that have contributed massively to the space’s growth in the past ten years are based on the Ethereum blockchain.
Tomaino backs the continuous growth of these use cases, which he believes will drive billions to the crypto space, increasing ETH’s scarcity and strengthening its case as a store of value to rival Bitcoin’s dominance and market attraction.
Nick Tomaino added:
Maximalists say there will be only one credibly neutral, internet native store of value. They are dead wrong.
There will be many but there are only 2 viable options today: BTC and ETH
At the time of writing, Ethereum trades at $2,545 following an 8.68% gain in the past day. Over the last month, the altcoin has grown by 64.19%, indicating a decisive market capture by the ETH bulls.
