Nobody can deny the importance of Bitcoin (BTC). The flagship cryptocurrency was also the very first crypto, and as of now, it is still firmly positioned at the top with the largest market capitalization. However, many believe that due to Bitcoin being quite old and seemingly outdated, its main rival Ethereum (ETH) shall eventually overtake it. The success of the recent London hard fork was a testament to that theory as Ethereum moves closer towards possibly becoming the biggest crypto itself.
With that in mind, the deVere Group’s founder and CEO, Nigel Green, has recently claimed that Ethereum shall ultimately ‘crush’ Bitcoin. He is not the only one who thinks this way, too, as several other cryptocurrency proponents remain highly bullish on the long-term potential that Ethereum possesses. As such, Green has made the bold prediction that Ethereum will replace Bitcoin as the world’s dominant crypto as soon as in the next five years.
Nigel elaborates on his claim
Of course, it is easy to say that Ethereum will overtake Bitcoin. In fact, numerous individuals have been saying that for years. However, in order for this theory to have any basis, empirical evidence will have to be provided. Nigel knows this, and he has thus highlighted the fact that if we were to observe both Bitcoin and Ethereum closely, then we would see that Ethereum has actually been outperforming Bitcoin for some time now (2 years, in fact). Nigel expects the biggest altcoin to sustain this momentum as the year draws closer towards its final quarter. Ethereum is also much faster comparative to Bitcoin, so the CEO’s claims may not be that far-fetched after all.
Furthermore, he explained how Ethereum has been able to have the performance of a lifetime as of late, with the altcoin being up by about 240% in 2021 alone. Bitcoin, on the other hand, is up by less than 38%.
‘I am still bullish on BTC’
Although Nigel has made his support for Ethereum abundantly clear, this does not mean that he is suddenly bearish on the flagship crypto. As a matter of fact, he believes that Bitcoin shall ultimately retest and overtake its previous high in April when it reached $65,000. Nevertheless, his long-term support is mostly centered around Ethereum, although he did admit that the altcoin is more than likely to experience some drawbacks as it tries to achieve its untapped potential.
Additionally, Nigel believes that Ethereum possesses greater real-use potential as compared to that of Bitcoin. There is some logic to his claims as well, as Ethereum has managed to transform itself into the biggest in-demand platform for the development of smart contracts, which only further proves its value as a global financial utility.
Of course, it should be mentioned that Ethereum 2.0 is one of the key reasons behind Ethereum’s overall success.