Galaxy Digital CEO Mike Novogratz told Bloomberg that Ethereum could potentially flip Bitcoin one day during his June 30 interview. Mike Novogratz doesn’t rule out that Ethereum may overturn Bitcoin.
— Bloomberg Technology (@technology) June 30, 2021
Video TimeLine (Jump to 2:30 for ETH Comments)
He mentions that Ethereum has a “very different use case” compared to BTC.
While bitcoin is designed as a store of value, its biggest competitor may serve as a baseline for Web 3.0.
“I think Ethereum, most likely, or, maybe, become the biggest cryptocurrency one day.”
However, he also points out that Ethereum faces stiff competition from Blockchains like Solana, Terra, and other ecosystems.
When asked if his clients are worried about the ongoing market correction, Novogratz replied that the crypto revolution is still in its early stages.
The crypto tycoon predicts that things that will be built on top of Ethereum or other platforms will be eye-popping in the next five years.
He claims that no one thinks that crypto is going away. Novogratz believes that regulation will make the industry even stronger.
Galaxy Digital CEO Mike Novogratz also said, following yesterday’s congressional hearing:
“the Bitcoin community needs to do a better job of educating lawmakers.”