- Ethereum Co-Founder Joseph Lubin believes ETH could flip BTC.
- This event could occur when ETH hits $20,000, within the next year.
- Growing interest from treasury companies fuels this great flippening event.
CEO of Consensys and Ethereum Co-Founder Joseph Lubin hints on CNBC that a great flippening event could occur in the crypto market. To highlight, this event would involve the pioneer altcoin Ethereum (ETH) flipping the pioneer crypto asset Bitcoin (BTC). The cause behind this flip is attached to the fact that treasury companies are stockpiling ETH and driving the price of ETH to much higher targets.
Ethereum Co-Founder Joseph Lubin Makes Bold Statement
The price of the pioneer altcoin asset, Ethereum (ETH), has just reclaimed the $4,300 price mark, a target it took swiftly after breaking past the $4,000 price target. This resistance barrier took over 7 rejections to finally break through, meaning the area was under a lot of pressure, and a breakthrough led to a quick pump in ETH price. Now, analysts are hoping to see ETH reclaim its previous ATH and set higher ATH targets.
To highlight, the price of Ethereum has been steadily outperforming the price of BTC since the last quarter. This led several financial institutions to shift strategy and start accumulating ETH over BTC. The same strategy has also begun to be adopted by treasuries who see that a greater pump potential is likely in holding ETH as the asset has yet to reclaim its previous ATH, let alone set a new ATH price in the coming months ahead.
Presently, ETH has been getting a lot of attention from several popular financial experts. To name a few, Tom Lee and Arthur Hayes have both shared their expectations for the price of ETH to pump exponentially over the next few months, and possibly even hit a bullish ETH ATH target of $15,000 by the end of this year. Now, another reputed face in the crypto space is adding to the conversation.
As we can see from the post above, CEO of Consensys and Ethereum Co-Founder, Joseph Lubin, went on to hint on CNBC that he believes ETH could flip BTC within the next year or so. In detail, he expects this outcome due to the relentless ETH accumulation and growing interest in Ethereum from treasury companies. He says that these treasury companies are driving the demand for ETH and sending it to higher prices.
ETH Could Flip BTC Within the Next Year
As we can see from the video in the post above, Lubin goes on to foresee a great event for ETH to flip BTC; he calls this the flippening. Specifically, he says that ETH will eclipse the monetary base size of Bitcoin (BTC). He says that while some think this event would either take years or would never happen, they may be surprised by astonishing changes over the next few years, thanks to growing interest from treasury companies.
