Ether (ETH) will surpass bitcoin (BTC), says fund manager Soros

Ether (ETH) will surpass bitcoin (BTC), says fund manager Soros

Dawn Fitzpatrick, Leader Soros Fund Management, worth $ 28 billion, said ether is expected to gain ground over bitcoin, due to growing climate concerns. The business woman also thinks that cryptocurrencies will become permanent and are already even mainstream. In addition, she felt that an economic downturn was inevitable.

Cryptocurrency here for a long time

Dawn Fitzpatrick, Managing Director and Chief Investment Officer of Soros Fund Management, said that cryptocurrency is now mainstream and “ here to stay ” despite the emerging risks of a global recession. In particular, she said: “Crypto is here to stay. I think it has become popular. Fidelity has announced that you can add it to your 401 (k). The only caveat I would say is, first of all, that climate impact will have more and more impact. So in that context, I think ether is likely to gain a little more ground over bitcoin. »

Soros Fund Management CEO says Ether Wins over Bitcoin

While Ethereum has signaled a shift to much more environmentally clean technology, Dawn Fitzpatrick believes it is the blockchain of the future. In a world where ecological consciousness is becoming more and more important, it is clearly best to look at the blockchains that have the lowest carbon footprint. Ethereum is preparing to move from the consensus mechanism Proof-of-Work energy-intensive mechanism of Proof of Bet much more environmentally friendly. This is the famous Ethereum 2.0!

Ethereum 2.0: Where are we?

Monday, May 30, 2022, the testnet Proof-of-Work from Ethereum, Ropsten, has launched its own beacon chain Proof of Bet and plans to merge the two test chains on June 8th. The final step was to successfully merge Ropsten test chains before moving the mainnet to the Proof of Bet. According to Ethereum developer, this could happen as early as August, although Ethereum creator Vitalik Buterin said September or October could be more realistic.

financial crisis, stock exchange, bias

Inevitable economic recession, but not so far?

For Dawn Fiztpatrick, ether is the currency of the future, more than bitcoin! Speaking of the future, she thinks the world will inevitably experience a recession. “There is a lot of talk about a coming recession, and the bottom line is that a recession is inevitable, it’s a question of when. » she asserted, before she stated, that this recession will not be as strong as we have imagined. “The recession will be further away than people expect.”

Ether has a definite advantage. As soon as he finishes transferring to the Proof of Bet, enjoy an environmental lead over bitcoin. It will enjoy an ecological reputation. Like Dawn Fitzpatrick, some investors will see cryptocurrency as the future. However, although less ecological, the Proof-of-Work it has the advantage of being more secure than the Proof of Bet. Between ecology and safety, what will be the consensus?

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Gregory Morat

A student passionate about entrepreneurship and interested in the technologies behind cryptos! Yes, I’m convinced that the two are closely linked: blockchain and NFTs are revolutionizing many sectors and presenting unprecedented opportunities.

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