Headline: Макроаналитик подчеркивает ценность биткоина как надежного актива без встроенного риска Translation: Macroanalyst emphasizes Bitcoins value as a reliable asset without built-in risk

The lack of built-in yield in the original cryptocurrency is an advantage that renders it a more secure store of value. This was expressed by macro analyst Luke Gromen during Natalie Brunell’s podcast, Coin Stories.

According to him, any yield is associated with risks. He cited the collapse of the FTX cryptocurrency exchange in 2022 as an example.

“Staking on FTX offered returns. Apologies to some crypto enthusiasts—it’s a sore point. But through staking on the platform, you could earn passive income. And how did that turn out?” he remarked.

Gromen pointed out that bank deposits yield interest precisely because depositors assume risks.

“Everyone believes it’s their money in the bank. They are mistaken, as it’s actually the bank’s money,” the analyst added.

His comments came amidst ongoing comparisons between Bitcoin and Ethereum. Proponents of Ethereum, the second-largest cryptocurrency by market cap, argue that the Proof-of-Stake consensus mechanism, which allows for staking rewards, makes it a more appealing option for traditional investors.

Earlier in September, Joseph Lubin, the founder of ConsenSys, stated that soon Wall Street firms would actively engage in staking and participate in DeFi, which will lead to a hundredfold increase in Ethereum’s value from current levels.

Analysts at JPMorgan also shared a similar view, noting that some corporations investing in ETH plan to become validators to accumulate passive income.

Gromen asserted that Bitcoin’s value as digital gold lies in its lack of counterparty risk. Primarily, market participants purchase cryptocurrency as a hedge against inflation, government control, and economic instability.

“Anyone stating a preference for yield-bearing assets is merely showcasing their Western financial privilege,” the macro analyst pointed out.

It’s worth mentioning that the co-founder of the ETH Strategy protocol, under the pseudonym Clouted, recently declared the dollar to be «useless» in light of Bitcoin’s rise.