Vitalik Buterin, ETFs Shouldnt Matter As A Global Adoption
Vitalik Buterin, who is the co-founder of the second largest cryptocurrency in the world utilizing market capitalization, known as Ethereum and one of the most influential personalities within the crypto-verse, noted that the community is placing too much attention towards Bitcoin EFTs. Instead, he reiterated the importance of creating some ways of facilitating smaller, as well as retail investors in the market.
Nowadays, the crypto markets experience a bullish run which many fundamental analysts attribute to the expectations of investors for possible approval of crypto ETFs, especially Bitcoin. Following the Bitcoin ETF saga from recently, the co-founder outlined that the public will place too much emphasis on cryptocurrency exchange-traded-funds, when, instead, the focus should be on making means for some smaller investments.
Increasing adoption of crypto assets raised cryptocurrency prices
For the mastermind behind Ethereum, the focus should be on adoption rather than speculation.
Vitalik criticized the fact that the community is concentrating on aspects which are not significant in the long run. From a fundamental point of view, his opinion is actually well-based. Some further adoption is going to imply the need to acquire more tokens, in that way increasing their price. Even from an economic point of view, adoption is attractive to speculators.
What precisely raised the prices of Bitcoin and Ethereum to astronomical levels was the increasing adoption of cryptocurrencies in less than a decade.
The words of Vitalik are the intense reflection of the crypto-currency reality these days, where one group sees cryptos as a substitute for fiat money, as well as an essential mechanism for future economic transactions, while the other group focuses merely on speculation.
Most of the exchanges have grown thanks to the increase in the number of crypto users, generally of those that are inclined towards speculation. This fact has always been attacked by Vitalik Buterin who has, directly and indirectly, made calls of conscience to the community on several occasions.