Bitcoin is probably the most well-known cryptocurrency for the wider public, however, Ethereum has sparked an interest in many cryptocurrency investors and businessmen. Perhaps the most recent important news is connected with the interview Mike Novogratz gave to Bloomberg at the end of June, during which he said that he believes Ethereum has the potential to outrun Bitcoin and become the biggest cryptocurrency.
— Bloomberg Technology (@technology) June 30, 2021
Who is Novogratz?
The CEO of Galaxy Investment Partners, former billionaire and self-made man, Michael Edward Novogratz is an investment banker that has, for the past years, investing in cryptocurrencies, especially Bitcoin and Ethereum. His opinion is something that other financial investors do not take lightly and it is interesting to understand why Ethereum could become the biggest cryptocurrency.
Ethereum – a worthy opponent for Bitcoin
At present, Bitcoin is the most powerful cryptocurrency thanks to its design and popularity. Nevertheless, Ethereum has the most used blockchain and it can also help further develop the Semantic Web, also known as Web 3.0. The further development of the Semantic Web implies decentralized data networks, artificial intelligence, and state-of-the-art computing.
Are Bitcoin and Ethereum the only cryptocurrencies at the race against each other?
If we are to consider the premises based on which Ethereum might surpass Bitcoin, the further development of Web 3.0, there are other ecosystems that work towards the same goal, such as South Korea’s Terra and Solana blockchain.
The early stages for cryptocurrency
Novogratz has also declared that cryptocurrencies and blockchain technology are still in early stages, but it is a fact that crypto coins are here to stay and they represent the future. This implies that the cryptocurrency community has to take a bigger part in educating others about this new technology.