Foreign Affairs Committee Chairman Tom Tugendhat said he was bullish on Ether rather than Bitcoin, which is currently the top digital coin across the globe.
- Tugendhat, in a speech, said he was more bullish on Ether and mentioned the flippening, which could see a change in the world’s two biggest digital coins.
- The Parliament member tweeted a part of his speech recorded on video, where he cited contracts and currencies that will shape future trade.
We need to think about the contracts and currencies that will shape future trade and risk sharing. We’re seeing the flippening from #Bitcoin to #Ether and we need @hmtreasury to help create space for UK innovation and our legal system to learn what’s needed in a new economy. pic.twitter.com/vUN0rxbW1W— Tom Tugendhat (@TomTugendhat) May 20, 2021
- “We’re seeing the flippening from Bitcoin to Ether,” Tugendhat said but did not elaborate on the reasons why he was betting on Ether.
- Tugendhat also called on the Treasury to help create space for innovation which would seek to share prosperity on a global basis.
- The politician said the legal system should also look into the needs of the new economy.
BTC/USD is down 10.78%, while ETH/USD is down 16.13%