Galaxy Digital’s Jason Urban What Will Drive Ethereum To Flip Bitcoin
08 Avril 2022 - 07:00PM
NEWSBTC
The school of thought that Ethereum will one day flip Bitcoin is
one that has been around for a while. Although debates around this
have subsided following the bull rallies that rocked last year.
However, it seems not everyone has forgotten about this. One of
those is Galaxy Digital’s trading co-head Jason Urban. The trading
veteran shared his thoughts on the crypto market and what he
believes will push Ethereum to eventually flip Bitcoin. Ethereum
Merge Is The Catalyst In an interview with Kitco News, Galaxy
Digital Co-Head of Trading, Jason Urban explained why he believed
that Ethereum will end up flipping bitcoin. The major driver
identified by Urban was the upcoming ETH Merge. This merge will
give Ethereum another edge over bitcoin, both of which still
utilize the proof of work mechanism. However, after the merge,
Ethereum will move to proof of stake, requiring significantly less
energy to carry out transactions. Related Reading | Terra
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APR The increased speed and scalability of the network will also
give it an edge. Making it a more valuable digital asset.
Pointing to the rapid adoption of the digital asset, he told Kitco
News that it shows more people are beginning to understand what
Ethereum is about. The leading smart contracts platform presents a
unique opportunity with its widespread utility, hence, making it a
great play for institutional investors. ETH price crumbles to
$3,200 | Source: ETHUSD on TradingView.com “There’s scalability and
things that now become very valuable and will allow ETH to grow and
so smart institutional investors are seeing that,” Urban noted.
“They’re not going to create a more ESG compliant crypto and that
is driving institutions into such a degree that we may see more
institutional money going into Ethereum than Bitcoin because of the
whole energy consumption angle.” When Will The Flippening Happen?
For highly volatile digital assets like Bitcoin and Ethereum,
trying to predict their future value can often be a short in the
dark. But Urban has placed a timeframe in which he believes that
the market may see ETH flipping BTC. Related Reading | Mike
Novogratz Doubles Down On $500,000 Bitcoin Prediction The timeframe
he offered shows that the trading co-head does not expect to see
the flipping happening anytime soon. However, the timeline for the
future is not very wide. Answering the question, Urban said that he
sees this taking place “in the next two to three years” which is
the “soonest” time that he expects this to happen. “As people
become educated in the space and they understand what the value
proposition of crypto is they start to understand the power of
smart contracts that layer one that so many brilliant minds can
build on. Ethereum is the copper, Bitcoin is the digital gold.”
Ethereum is trading at $3,250 at the time of this writing. It is
currently sitting at less than 10% of the value of bitcoin,
although its market cap shows a smaller gap compared to the pioneer
cryptocurrency. Featured image from CNBC, chart from
TradingView.com
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