Venture fund Placeholder partner: Bitcoin is closer to gold, and ETH is closer to currency

Chris Burniske, a New York-based venture capital partner, has recently launched a series of tweets detailing how cryptocurrency, bitcoin and Ethereum should be used as collateral rather than as a medium of exchange. He said Bitcoin is closer to gold and ETH is closer to money. In the long run, he expects assets that are designed to hedge (such as BTC, DCR, ETH) to be used more widely as collateral rather than as a means of exchange. He also pointed out that the “emerging collateral economy” around ETH makes altcoin a value storage tool that can extend its utility beyond what a pure exchange can expect. He added that Bitcoin should be integrated into it like Ethereum.