An important question in the crypto market is whether there will ever be a virtual currency that would replace Bitcoin in the future. The Canadian businessman, Kevin O’Leary, said that Bitcoin could lose its top position as the most important virtual currency and leave the place to Ethereum (ETH).
Bitcoin [BTC] flies past the $7,300 as ETH follows above $500.00 against the US Dollar. However, Kevin O’Leary strongly believes that Ethereum in the end will turn the real leader of the crypto-verse.
He also briefly mentioned the topics related to large investors, bankers and Wall Street entering the market. He said,
“The regulators aren’t on board yet, and we have to wait until that happens because at the end of the day you need to know if it is transparent, compliant, and the regulators are on board and then you’ll see real money.”
As of July, there exists more than 1,500 decentralized applications (dapps) on Ethereum, ranging from prediction platforms like Augur to decentralized exchanges such as IDEX, equipped with developers who have a shared vision to commercialize the blockchain across various multi-trillion dollar industries.
According to O’Leary, the talk in the crypto-community has drastically shifted over Ethereum with much optimism surrounding it. The dialogue for the Smart-Contract-welcoming environment is intensifying heavily.
“By the way, the dialogue I’ve noticed on bitcoin over the last 60 days has dramatically changed. It started to sound like the pioneer with arrows in its back because people are saying its not the definitive platform anymore. Maybe Ethereum is becoming the new platform. All of the sudden, Bitcoin? What’s Bitcoin? That is not good for Bitcoin investors. Just a personal opinion, but i were long Bitcoin right now, I would start to worry about it,”
At the beginning of the current year, Bitcoin (BTC) had almost a 44% dominance, and now has 42.7%. Ethereum, had around 12.5% market dominance in January and now it has 17.7%