- Bitcoin corporate balance sheet strategies have been all the rage.
- Now companies are hoarding alternative cryptocurrencies.
- Ethereum is a utility play, said Jeff Park of Bitwise.
Just last week, Wall Street strategist — and longtime Bitcoin bull — Tom Lee made waves by landing a role atop a little-known Bitcoin miner turned Ethereum treasury company.
For Jeff Park, head of Alpha Strategies at Bitwise, the move signaled something different: Ethereum may be carving out a separate, fundamentally different investment thesis from Bitcoin in the public equity markets.
That difference, according to Park, starts with utility.
“Ethereum is a useful asset,” Park said in a July 8 interview on the Wolf of All Streets podcast.
“Bitcoin stores value. But Ethereum is productive — it earns yield.”
Bitcoin treasury companies like Strategy and Metaplanet have surged in popularity by raising money through convertible debt to buy and hold…
