The leadership of the cryptocurrency company Galaxy Digital is confident that Ethereum will overtake Bitcoin in the future due to the growing interest of corporate investors in smart contracts.
Galaxy Co-Chairman Jason Urban told Kitco News in an interview that Bitcoin and Ethereum are moving forward steadily and could rise in price by 100% in the second quarter of 2023.
“If you had asked me at the beginning of the year, I would say that I see bitcoin in the $100,000 range, and ether in the $6,500 to $7,000 range. Do I think cryptocurrencies will meet resistance to this? Potentially yes. Do I think it will matter? Not! If not the end of the year, then the first quarter of the next or the second quarter. It will happen. I see that a huge number of investors are entering this market. Thanks to them, the market will continue to move up,” says Urban.
A member of the Galaxy Digital directorate believes that due to its expanded functionality, Ethereum will overtake Bitcoin over time:
“At some point, bitcoin will be left behind. But is it inevitable? No. Do I think this is what we will see in the next two or three years? I could be wrong, but I don’t think it will happen any time soon.”
Institutional interest in Ethereum is growing as more large investors realize the benefits of smart contracts, the businessman is convinced:
“They are beginning to understand the power of smart contracts and first-level blockchains on which to create many brilliant solutions, and Ethereum is what is needed for new ideas. Ethereum is copper, and bitcoin is digital gold,” said the co-CEO of Galaxy Digital.
The founder of the BitMEX cryptocurrency exchange, Arthur Hayes, observing the cryptocurrency market, concluded that ether in 2022 will be used more often than bitcoin. With this, ETH will be able to reach the $10,000 bar.
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