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eToro Bigs Up Litecoin in Comparison to Bitcoin

litecoin on top of bitcoin

eToro has recently released a report outlining the benefits of Litecoin in which it compares the cryptocurrency as the silver to Bitcoin’s gold.

In the report, eToro analyst Mati Greenspan details the recent partnership Litecoin made with TokenPay to purchase a 9.9 percent stake in German real estate banking institution WEG.

In his comparison of Litecoin to Bitcoin as silver is to gold, he touts Bitcoin as a store of value rather than a payment method and suggests Litecoin has greater adoption ability when you look at transactions and trading volume.

He believes the acquisition of a stake in a traditional banking institution puts Litecoin in an excellent position to integrate the cryptocurrency with card-based payments.

In the report, Litecoins 2011 inception by ex-Google engineer Charlie Lee and his intentions to improve upon perceived weaknesses are mentioned, before highlighting the improved transaction speeds achieved by the digital asset.

The author clarifies that Litecoin doesn’t intend to compete with Bitcoin for a position in the top spot but rather acts as in a supporting role for the coin.

A list of Litecoins future developments is also included, such as developing partnerships with businesses to facilitate payments and its help in aiding the implementations of the Lightning Network and Segwit 2x for Bitcoin.

Greenspan concludes by suggesting that Litecoin has been significantly oversold and may well be worth far more than markets suggest.

Image From Shutterstock

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