Headline: Макроаналитик Люк Громен рассказывает, почему биткоин — это безопасность, а не доходность Translation: Macroanalyst Luke Gromen explains why Bitcoin is safety, not yield.

The lack of intrinsic yield in the original cryptocurrency is a benefit that positions it as a safer store of value. This was stated by macro analyst Luke Gromen during an episode of the Coin Stories podcast hosted by Natalie Brunell.

He emphasized that any form of yield inherently carries risks. As an illustration, he referenced the collapse of the FTX cryptocurrency exchange in 2022.

«Staking on FTX provided returns. I apologize for bringing up a sensitive subject for some crypto enthusiasts, but through staking on the platform, one could earn passive income. And how did that turn out?» he remarked.

Gromen pointed out that bank deposits yield interest precisely because depositors take on risk.

«Everyone believes that their money is in the bank. They are mistaken because it is the bank’s money,» the analyst added.

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

At the beginning of September, ConsenSys founder Joseph Lubin discussed this topic, highlighting that Wall Street firms are soon expected to actively engage in staking and DeFi, leading to Ethereum potentially growing a hundredfold from its current level.

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

Gromen asserted that Bitcoin’s value as digital gold lies precisely in its absence of counterparty risk. Most market participants buy cryptocurrency as a hedge against inflation, governmental control, and economic instability.

«Anyone who claims to prefer yield-bearing assets is merely demonstrating their Western financial privilege,» the macro analyst noted.

Additionally, the co-founder of the ETH Strategy protocol known as Clouted remarked on the «futility» of the dollar in light of Bitcoin’s rise.