Jefferies’ Christopher Wood remains as fundamentally bullish on the cryptocurrency space as ever.
In a note titled ‘Greed and Fear’, the global head of equity strategy said that he will add another five percentage point allocation to Bitcoin to the existing five percentage allocation initiated on 17 December 2020 at a then price of $22,779.
Though, he is not giving up on gold yet.
The reason for the growing focus on Ethereum, and its price has outperformed Bitcoin, is that this protocol is at the center of the action in the fast expanding decentralised finance space.