Tom Lee, co-founder of Fundstrat World Advisors, made some notable remarks on ARK Make investments’s FYI podcast hosted by Cathie Wooden.
Lee stated Ethereum may surpass Bitcoin within the coming interval (reversal), likening the method to the greenback’s dominance over gold on Wall Road in 1971.
“Ethereum has the potential to overhaul Bitcoin, simply as Wall Road overtook gold after 1971. As soon as the greenback got here off the gold commonplace, Wall Road created the monetary instrument that might dominate this new period. By 2025, all the pieces will likely be tokenized and Ethereum would be the basis of this new period.”
Lee stated he predicts that the full worth of the cryptocurrency ecosystem will attain $25 trillion by 2030, with most of that worth held in Bitcoin. However he additionally stated that tokenization and the event of good contract-based monetary merchandise may make Ethereum a brand new heart of Wall Road innovation.
Recalling that U.S. President Richard Nixon’s elimination of the nation from the gold commonplace in 1971 ushered in a interval wherein the greenback turned a “artificial” foreign money, Lee stated Wall Road on the time turned the develop into a bonus.
Throughout that point, Wall Road launched 14 new monetary merchandise, starting from cash market funds to mortgage loans. This has doubled the greenback’s share of the world’s international alternate reserves in only a few years.
Lee argued that the tokenization of {dollars} and different property on the blockchain creates an enormous alternative for Ethereum, and {that a} related transformation will happen by 2025. “Bitcoin is digital gold,” he stated. “Nevertheless, in a world of tokenized property, Ethereum will take over the position of the greenback and monetary devices. So it’s potential that Ethereum will overtake Bitcoin, simply as Wall Road overtook gold.”
Regardless of all these issues, Lee stated he’s optimistic about Bitcoin, arguing that in the long term, BTC’s truthful worth might be between $1.5 million and $2.1 million.
*This isn’t funding recommendation.
