Ethereum has a change to displace Bitcoin as world’s largest crypto, Mike Novagratz says By BTC Peers – Investing.com

Investing.com - Financial Markets Worldwide

Please try another search

baa4350e859afe7cbe8cd35e7c6cc3d5Cryptocurrency45 minutes ago (Jul 01, 2021 01:00PM ET)

Ethereum has a change to displace Bitcoin as world’s largest crypto, Mike Novagratz says © Reuters. Ethereum has a change to displace Bitcoin as world’s largest crypto, Mike Novagratz says

During a Wednesday interview with Bloomberg, former hedge fund manager and the current CEO of Galaxy Digital Mike Novogratz opined that might overtake in the near future.

Galaxy Digital CEO Mike Novogratz says that the Bitcoin community needs to do a better job of educating lawmakers, with @emilychangtv https://t.co/FTeWgdAQbn pic.twitter.com/IIZtAw1v37

— Bloomberg Technology (@technology) June 30, 2021

Despite being the first successful attempt at deploying a cryptocurrency, Novogratz is confident that Ethereum could become the core layer of the sematic web. The former hedge fund manager noted that apart from being the biggest contender of Bitcoin, Ethereum “a very different use case.”

I think Ethereum, most likely, become the second-biggest or, maybe, the biggest cryptocurrency one day.

The Wall Street veteran goes on to state that within the next five years, mind-blowing innovations will be deployed on Ethereum and other similar blockchains.

Speaking of other blockchain, Novagratz was quick to admit the strong competition Ethereum could face from platform like Terra, Solana, and other ecosystems.

When quizzed about the ongoing crypto market and its effects on his clients, Novogratz said that the crypto revolution was still very much in its early stages. He claims that the industry has move past the “bubble” stage and nobody thinks it will be going away. Furthermore, he admits that regulation is going to make the industry stronger.

Novogratz is one of the vocal proponents of cryptocurrencies. Last year, he revealed that he had a net value of at least 25% in liquid cryptocurrencies.

Continue reading on BTC Peers

Related Articles

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

tp