BTC and ETH Are the New Money
A famous crypto investor and a billionaire, Cameron Winklevoss, believes that Bitcoin and Ethereum cryptocurrencies have become the money of a new world and new users accept them voluntarily, without interference or coercion from the state, as it is the case with fiat money.
Fiat money is a currency, which is accepted as a means of payment, although it does not have an intrinsic value. Typically, fiat money is regulated and supported by the government.
ETH Is not Money but a Material
However, there is a contrasting opinion. Pierre Rochard, a renowned analyst and a strategist, claims that it is inaccurate to compare Bitcoin with Etherium.
In his opinion, Etherium is a tool for achieving certain goals, and not an independent asset. He also adds that Etherium, unlike Bitcoin, is not held by investors, and this deprives ETH of the opportunity to be considered as money.
ETH is used, that's a utility token. BTC is held, that is money. Learn the difference. Pierre Rochard via Twitter
Mr. Winklevoss has previously said that Bitcoin is the best asset to counter inflation caused by the actions of the Federal Reserve. Prior to the U.S. presidential elections, politicians are promising more and more, including new stimuli worth trillions of dollars. Winklevoss believes that the mere fact of existence of the promises of such large numbers shows how great inflation is.
Cameron and his twin brother Tyler are crypto investors and entrepreneurs, they have founded the Winklevoss Capital Management and Gemini cryptocurrency exchange. They are also known for accusing Mark Zuckerberg for borrowing their idea of Harvards students' interaction system, ConnectU, which soon became Facebook.