Guggenheim co-founder says Ethereum is more useful than Bitcoin

The second-largest cryptocurrency is much more useful than Bitcoin due to the presence of smart contracts, said Todd Morley, co-founder of Guggenheim Partners and head of the blockchain project Overline.

Guggenheim co-founder and Overline chairman, Todd Morley, is building the world’s largest #NFT Museum. He speaks on @BloombergTV

More on @crypto: https://t.co/kW75EqfFSz pic.twitter.com/Tkj9zonPFO

— Bloomberg Crypto (@crypto) May 25, 2021

Another distinguishing feature Morley cited is the growth in the number of developers. In his words, this metric has risen for the sixth consecutive year.

The co-founder of Guggenheim Partners also noted that price volatility is ‘typical for a young market’. Earlier the company’s chief investment officer Scott Minerd called cryptocurrencies a bubble after the May 19 crash.

Overline (formerly Block Collider) is an interoperability protocol designed to connect different blockchains, including Bitcoin, with DeFi.

The project, together with development company JDS, plans to build in New York a ‘blockchain tower’ that will become ‘the world’s largest physical NFT museum’.

As reported, Vitalik Buterin stated that Bitcoin ‘risks falling behind’, if it does not develop its technological base.