- Tom Tugendhat wants more financial innovations in the UK
- Tugendhat more interested in ETH over BTC.
Tom Tugendhat has been in the United Kingdom Government for more than five years. The member of parliament has urged UK citizens to put more of their energy into financial innovations. He finds the growth in the crypto space most exciting. He said he leaned more towards ETH over the giant coin BTC.
UK politician bullish on Ethereum(ETH)
Tom Tugendhat, who got the seat as a member of the British Conservative party has served the UK government since 2015.
He recently told his government to learn to embrace innovative financial strategies. He believes that if the country fails to adapt to the daily changes in such limited time, the country will lag.
Tom perceives that most of these changes are driven by online platforms. He insisted on the crypto sphere. Tugendhat campaigned on the second largest digital asset ETH than the all-time high digital currency BTC. He did not explain why he sided on Vitalik’s coin than the all-time high digital asset BTC.
Even though he did not give reasons, he touched upon the “flippening”, a term that became popular in 2017 and 2018 when Ethereum (ETH) was almost beating the all-time high digital asset Bitcoin. Many people think that ETH wants to surpass the giant coin after it has recorded a massive drop.
Ethereum(ETH) growth role
ETH has attempted to outshine the cryptocurrency giant for a long time. The race has not yet come to an end. This year only ETH has surged by 7%, while the giant cryptocurrency has dropped by 30%, shortening the gap between the two digital assets.
Recently it has been noted that ETH has been growing steadily. A recent report by Coinshare revealed that institutions purchased more ETH than Bitcoin in the previous month.