Mike Novogratz: Bitcoin Will Be Digital Gold for 3,000 Years But Ethereum Can Surpass it
Mike Novogratz, the CEO of Galaxy Digital, suggested that Ethereum might actually surpass BTC in terms of becoming the largest digital asset. He also indicated that Bitcoin will be the digital version of gold for the next 3,000 years.
During a recent interview, the CEO of Galaxy Digital also urged the cryptocurrency community to enhance its efforts to educate lawmakers about Bitcoin and the entire industry.
Can ETH Surpass BTC?
The topic of the eventual “flippening” – an event that will see ether surpassing bitcoin as the world’s largest cryptocurrency by market cap – emerged a few years ago. At the time, ETH’s value against the dollar was rising rapidly, while BTC had started to retrace.
Fans of the current second-largest digital asset believed such a change is inevitable. Although ETH closed the gap to BTC during this year’s bull market as well at one point, it has failed to surpass its biggest brother so far.
The CEO of Galaxy Digital said to Bloomberg in an interview, he hinted that such a scenario is still possible due to the massive growth of the network behind ether. He commented:
“I think Ethereum may even become the biggest cryptocurrency one day,” but it will have a “very different” use case than BTC.
Ethereum’s blockchain could be used “as the base level of trust – the Web 3.0, where things get built on top of it.” Nevertheless, he admitted that the network would face competition from other projects, like Polkadot and Solana. However, Novogratz believes Ethereum will ultimately prevail.
