Buterin: Ethereum May Beat Bitcoin

In an interview with CNN, Vitalik Buterin said that the “crypto market bubble” may have already burst.

He declared,that cryptocurrencies are “closer than ever towide acceptance”. Digital assets are already part of the “new digital world”. However, in order for cryptocurrencies to truly begin to benefit people, a lot more work needs to be done.

Buterin believes that the young market is still strongaddicted to external stimuli, like Musk's tweets. He is confident that in the future the industry will learn to respond to such stimuli and they will not have such an impact on the market.

When asked whether cryptocurrencies are now at the “bubble” stage, Vitalik replied:

I would say yes. But I cannot predict when this bubble will end. It could have ended already. Maybe this will happen in a few months.

According to him, the bubble may burst when the general public realizes that the technologies behind cryptocurrencies have not yet been finalized and are far from ideal. 

He also added that concerns about the influencePoW on the environment is real. In his opinion, if Bitcoin developers do not work towards improving the energy efficiency of mining, then Bitcoin risks losing its primacy to Ethereum.

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