Bitcoin Remains King of Crypto: Why Investors Should Still Diversify with Ethereum

In a recent update from COINOTAG dated May 14th, Matt Hougan, Chief Investment Officer at Bitwise, underscored Bitcoin’s dominance in the cryptocurrency market. He characterized Bitcoin as the *preeminent asset* in the sector, highlighting its unparalleled *liquidity* and *maturity*. Often referred to as *digital gold*, Bitcoin stands as the only cryptocurrency with a realistic pathway toward achieving status as a *globally recognized currency*. Nevertheless, Hougan advises investors to maintain a diversified portfolio. Notably, Ethereum has recently experienced a remarkable *40% increase* in value over the past week, suggesting that the second-largest cryptocurrency is gaining traction. This phenomenon could encourage investors to explore assets beyond Bitcoin, considering the potential benefits of a more varied investment strategy in the volatile crypto landscape.