ConsenSys CEO: Ethereum Could Overtake Bitcoin in Value

ConsenSys CEO Joseph Lubin has made a statement that Ethereum is not just a cryptocurrency, but a “trust commodity” that has the potential to surpass the value of the first cryptocurrency, Bitcoin.

In an interview, he said that the company is actively negotiating with major sovereign funds and banking institutions of one of the major states to develop a new financial infrastructure based on the Ethereum blockchain. According to him, the world is at the final stage of another financial supercycle, and it is decentralized protocols that will form the basis for the formation of a new global system of settlements and storage of values. Lubin emphasized that ether is one of the most important instruments of trust in the modern economy and can take a key place in the future digital financial space. He also noted that the possibility of the price of ether growing above the level of bitcoin looks quite real.

The ConsenSys CEO added that such negotiations could mark the beginning of a large-scale institutional implementation of Ethereum into the traditional financial system, including the potential inclusion of the second-largest cryptocurrency in official national reserves. Previously, this practice was applied exclusively to Bitcoin, which was considered the main asset for such purposes. At the same time, Lubin is confident that despite the current decline in Ether prices and increased competition from other blockchain networks, in particular Solana, Ethereum continues to be the foundation for building a sustainable and decentralized global financial system.

Earlier it was reported that investors from Galaxy Digital transferred 25 thousand ethers to the largest crypto asset platform Binance within a few days.