Mike Novogratz calls for ceasefire between Bitcoin (BTC) and Ethereum (ETH) communities

Alex Dovbnya

Mike Novogratz, a prominent investor and former hedge fund manager, recently pushed for unity between the Bitcoin and Ethereum communities

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Prominent investor and former hedge fund manager Mike Novogratz recently called for a truce between the rival Bitcoin (BTC) and Ethereum (ETH) communities.

In a tweet, Novogratz questioned the polarizing mentality often seen among cryptocurrency enthusiasts, stressing that both BTC and ETH have robust communities that believe in the future of their respective digital assets and are ready to make significant fortunes to invest in them.

The discord between the two factions stems from the different value propositions and applications of each cryptocurrency.

Bitcoin, often viewed as a store of value and digital gold, competes with Ethereum, which aspires to be a decentralized platform for a variety of applications and smart contracts.

This rivalry is further fueled by the notion of “flip,” a hypothetical scenario in which Ethereum’s market cap surpasses that of Bitcoin and establishes Ethereum as the pre-eminent cryptocurrency.

Reactions to the crypto mogul’s tweet were varied, with some social media users opining that both cryptocurrencies can co-exist and thrive.

Others were quick to discover that strife has its roots in human nature, often resulting in divisions based on differing beliefs.

In an interview with Bloomberg in July 2021, Novogratz predicted that ether “may even become the largest cryptocurrency one day,” but added that it will have a “very different” use case than the original cryptocurrency.

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