Ethereum co-founder Vitalik Buterin spoke ambitiously about the Ethereum price. Buterin also made statements about Elon Musk.
Speaking to CNN Business, Ethereum co-founder Vitalik Buterin expressed his views on the collapse of the cryptocurrency market and the current state of the crypto industry.
Buterin, who lost most of his personal wealth with the decline last week, stated to CNN that he has witnessed such declines many times in the past, and expressed that he is not worried about the market collapse.
“So far we’ve seen at least three of these big crypto bubbles. Often the reason the bubbles stopped was because some events occurred that made it clear that the technology wasn’t there yet. ”
Buterin, who thinks that crypto money is not a toy, compares the current scene with the last “bubble” four years ago, adding:
“Crypto comes mainstream ready in a way that it didn’t even four years ago. Crypto money is no longer a toy. ”
Buterin added that, although not sure, it is “possible” for Ethereum (ETH) to eventually catch Bitcoin (BTC) and surpass it in terms of market value. At the moment, Ethereum’s market value is $ 318 billion, or 42.5% of Bitcoin’s market cap, and this number is growing.
Spoke about Elon Musk
Ethereum brain stated that this is a temporary state regarding the “Elon effect” and its effect will decrease in the future:
“Elon Musk’s tweets are something the cryptocurrency space has literally recognized for the first time last year and this year. In this case, I think it makes sense to expect some madness. But I think markets will learn. Elon won’t have that effect forever. ”
Commenting on the recent DOGE craze, Buterin made clear his opinion by saying “I don’t think Elon is malicious in any of them.”