Speaking at the Bitcoin 2022 Conference, Galaxy Digital Trading Co-Chair Jason Urban evaluated his perspective on Ethereum and Bitcoin prices. Analyzing what is driving institutional demand for Ethereum, Urban discussed Goldman Sachs’ exposure to ETH through an Ethereum fund.
As people become educated in this area and understand what the value proposition of crypto is, they are beginning to understand the power of smart contracts, a layer that many bright minds can build on. Ethereum is copper, Bitcoin is digital gold.
said.
Urban also stated that he sees ETH 2.0 as another driving factor.
There are scalability and things that are now becoming very valuable and will allow ETH to grow. That’s why smart institutional investors see it. They will not be able to invent a crypto currency that is more compatible with environmental, social and corporate governance.
said. However, Urban does not believe that the Bitcoin reversal will happen in the near term, but thinks it could happen in the next two to three years.
If you had asked me at the beginning of the year, I would have said that I believe Bitcoin will reach $100,000 this year. Ether would be around $6,500 to $7,000.
said. However, he believes that these predictions will not be realized immediately due to inflation rates and the Russia-Ukraine war this year.
Urban also stated that people do not always perceive the usefulness of crypto because they do not understand it, but he believes there is so much benefit in this ecosystem.