Galaxy Digital’s Jason Urban What Will Drive Ethereum To Flip Bitcoin


The school of thought that says that Ethereum will flip Bitcoin one day is a school that has been around for a while. Although discussions about this have cooled off after the bullish rallies that rocked last year. However, this seems not to be forgotten by everyone. One of those is Jason Urban, the commercial co-chair of Galaxy Digital. The veteran of the trade shared his thoughts on the crypto market and what he believes will drive Ethereum to eventually flip Bitcoin.

Ethereum merger is the catalyst

In an interview with Kitco . NewsJason Urban, co-head of trading at Galaxy Digital, explained why he believes Ethereum will end up flipping Bitcoin. The main driver that Urban identified was the upcoming ETH Merge. This merger will give Ethereum another advantage over Bitcoin, both of which still use a proof-of-work mechanism. However, after the merger, Ethereum will move to Proof of Stake, which requires much less power to execute transactions.

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The increased speed and scalability of the network will also give it an advantage. Which makes it a more valuable digital asset.

Noting the rapid adoption of the digital asset, Kitco told News that it shows that more people are starting to understand what Ethereum is. The leading smart contract platform presents a unique opportunity with its wide utility, making it a great game for institutional investors.

Ethereum price chart from TradingView.com

ETH price crumbles to $3,200 | Source: ETHUSD on TradingView.com

“There is scalability and things that are now very valuable and will allow ETH to grow and so savvy institutional investors are seeing that,” Urban noted. “They are not going to create a crypto that is more compatible with ESG and this is driving institutions to the point where we may see more institutional money going into Ethereum than Bitcoin because of the whole power consumption angle.”

When will the flipping happen?

For highly volatile digital assets like Bitcoin and Ethereum, trying to predict their future value can be short in the dark. But Urban has set a time frame that he believes the market could see volatility in ETH in BTC.

Related reading | Mike Novogratz Doubles Bitcoin Expectations at $500,000

The time frame presented by him shows that the head of the trader does not expect the volatility to occur any time soon. However, the timeline for the future is not very broad. In response to the question, Urban said he sees this happening “in the next two or three years” which is “the earliest time” he expects it to happen.

“As people in the space learn and understand what the value proposition of cryptocurrencies is, they begin to understand the power of smart contracts on which many brilliant minds can be built. Ethereum is copper, Bitcoin is digital gold.”

Ethereum is trading at $3,250 at the time of writing. It currently stands at less than 10% of the value of Bitcoin, although its market capitalization shows a smaller gap compared to the leading cryptocurrency.

Featured image from CNBC, chart from TradingView.com



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