Categories: CryptoFinanceNews

Kraken Contest Results are in: Invest in Bitcoins, But Don’t Disregard Ethereum

There are more than 100 cryptocurrencies out there, each one with their own use case, market capitalization, and user base. Virtually anyone with the right skill-set can create their own currency. The open nature of crypto and its FOSS philosophy makes it easy for people to adopt it or invest in it.

The hard part of launching a cryptocurrency is gathering adoption from the public. The cryptocurrency space has always been a hostile place. We are living on the bleeding edge of financial technology and Kraken, one of the leading digital asset exchanges in the world, acknowledges that.

Kraken started an experiment, an international contest directed at several university business schools. The objective was to build the best cryptocurrency portfolio (Bitcoin, Ethereum, or both) with an initial investment of 1 million dollars. The Kraken Case Study Competition was open during a full week. Participants from 13 business schools located in USA, Canada, Brazil, and Portugal submitted their entries.

After a careful analysis, Kraken announced the winners–the Freeman School of Business from Tulane University took the first place; Ted Rogers School of Management from Ryerson University secured the second place; Marriot School of Management from Brigham Young completed the podium in third place.

The prizes were $10 thousand, $5 thousand, $3 thousand for the first, second, and third place, respectively. The competition showed that the business students preferred bitcoin as the main portfolio asset.

Related Post

The three winners explained that, although the sanest decision was to invest the majority of funds in Bitcoin, it would be foolish to disregard Ethereum’s main token, Ether. The Tulane students (first place winners) allocated 67% of the funds to Bitcoin and a 33% to Ether. The students made price analysis on weekly charts to reach their conclusions.

On the other hand, Ryerson students decided to survey the opinion of several FinTech and financial experts about the impact of both Bitcoin and Ethereum in e-commerce and other financial sectors. According to the survey, the majority of experts favored Bitcoin, thus the students from Ryerson decided to allocate 69% of the portfolio to Bitcoin, and the remaining 31% to Ether.  Lastly, Brigham Young business School analyzed the supply and demand offers, security, liquidity, and volatility to make a conclusion–78% will go to Bitcoin and 22% to Ethereum.

Both platforms offer many opportunities, with a high growth potential. Tulane students remarked that Bitcoin and Ethereum are technologies destined to coexist, and that they don’t predate each other.

If you liked this article, follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin, cryptocurrency, and technology news.

Eduardo Gómez

Eduardo Gómez is a Computer Science Major from Venezuela, a country with a loyal Bitcoin user base. He discovered Bitcoin in 2012 and now he use it to escape the triple-digit inflation that Venezuela suffers, he is focusing on developing a writing career, and he tries to keep up with the news in FinTech and Blockchain Technologies.

Share
Published by
Eduardo Gómez

Recent Posts

Crypto Whale Sparks 8x Surge In $OPK Price with Massive Buy-in

A mysterious crypto whale, who previously invested 9,600 SOL into tokens $Pnut and $FRED, has…

25 mins ago

Early ENS Investor Transfers $2.47M To Binance Amid Upcoming Token Unlocks

An early investor linked to the $ENS token recently transferred 154,000 ENS tokens, valued at…

28 mins ago

Wintermute’s Memecoin Strategy: BABYDOGE Ranks Among Top 3 Holdings

In a surprising turn, $BABYDOGE has climbed to the top three in Wintermute’s memecoin holdings…

35 mins ago

$Pnut’s Meteoric Rise: How A Tragic Squirrel Inspired A Memecoin Sensation

The $Pnut memecoin recently soared past a $120 million market cap, creating unexpected wealth for…

41 mins ago

Political Memecoins And High-Stakes Bets Surge As Election Approaches

With election season heating up, political memecoins like $PEOPLE, $MAGA, $HARRIS, and $TRUMP are surging.…

47 mins ago

TRX Price Prediction: Tron Network Fee Cut to Spark New ATH?

Back into Spotlight: Tron Network Fee Cut Could Push TRX to ATH, But This DeFi…

10 hours ago