What Happened: In a recent podcast with Lex Friedman, Ethereum (CRYPTO: ETH) founder Vitalik Buterin shared his views on a number of topics ranging from Ethereum’s advantage over Bitcoin (CRYPTO: BTC) to Elon Musk’s crypto strategies.
Buterin’s recent comments on the podcast prompted a reply from the Tesla Inc (NASDAQ:TSLA) CEO himself, who took to Twitter to say that he “pretty much” agrees with Vitalik.
I pretty much agree with Vitalik
— Elon Musk (@elonmusk) June 5, 2021
Why It Matters: Although Musk didn’t specify exactly what he was in agreement with Buterin about, the Ethereum founder seemed to resonate with Musk’s views about Dogecoin.
“You would make a mistake if you were to ascribe too much sophisticated malevolence or any deep intentionality to the whole process. He’s just a human being, and he likes dogs just like I like dogs,” said Buterin on Musk’s preference for Dogecoin.
Buterin also believes that Tesla and SpaceX will have to adopt Ethereum at some point if they continue to stay in the cryptocurrency ecosystem.
“Bitcoin is the blockchain for money and Ethereum is built from the start as a general-purpose blockchain.”
“There is Ether, the asset on Ethereum, but you can also make decentralized financial things, what we call DeFi today…You can make ENS, or a decentralized domain name system, you can put prediction markets on it [Ethereum],” explained Buterin, reasoning that in the future there will be a need for a lot more than just a “blockchain for money.”
Price Action: Ethereum was trading at $2,638 at the time of writing, after recovering by over 20% from the week’s low of $2,191.
The second-largest cryptocurrency by market cap had a daily trading volume of $29 billion at press time.