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Insiders say they think ethereum is a better investment than bitcoin

Business Insider logo Business Insider 7/9/2018 Zoë Bernard

A man wears a Bitcoin logo t-shirt on the floor of the Consensus 2018 blockchain technology conference in New York City, New York, U.S., May 16, 2018.© Provided by Business Insider A man wears a Bitcoin logo t-shirt on the floor of the Consensus 2018 blockchain technology conference in New York City, New York, U.S., May 16, 2018.

  • According to new data from New York-based law firm Foley and Lardner, a group of insiders say that among cryptocurrencies like bitcoin, Dash, and Monero, they believe ethereum to be the best bet.
  • 38% of respondents picked ethereum as the best investment opportunity, while 35% picked bitcoin as their preferred investment.

When it comes to cryptocurrency investments, there's plenty of room for debate over which digital currency is the best bet.

But for one group of investors, the choice is clear: According to new data from New York-based law firm Foley and Lardner, a group of insiders say that among cryptocurrencies like bitcoin, Dash, and Monero, they believe ethereum to be the best bet.

Foley and Lardner surveyed a mix of investors and business executives about trends relating to cryptocurrencies. Among the questions they asked was which digital currency they believed to be the best investment opportunity.

The most popular pick? Ethereum, the three-year-old blockchain technology that's been largely used as the foundation for decentralized applications. 

which cryptocurrency provides best investment opportunity foley lardner chart© Provided by Business Insider which cryptocurrency provides best investment opportunity foley lardner chart Shayanne Gal/BI Graphics

It should be noted, however, that the margin of people who believe that ethereum is a more worthwhile investment over bitcoin is slim: While 38% of respondents said they believed ethereum was the better bet, 35% picked bitcoin as a preferable investment opportunity. 

A mere 5% of respondents said they thought Ripple was the best investment, while only 2% said they would bet on Dash. 

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a man wearing glasses© REUTERS/Mike Segara screenshot of a cell phone© Shayanne Gal/BI Graphics
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