Vitalik Buterin says Ethereum could overtake Bitcoin as a store of value

Ethereum co-founder Vitalik Buterin did not rule out that the second-largest cryptocurrency by market capitalization could surpass Bitcoin in total market value and as a store of value. He said this on the The Stakeborg Talks podcast.

“This is possible. I think the big difference between Ethereum and Bitcoin is that the latter is a platform where the value of the ecosystem depends on the price of the cryptocurrency, but in Ethereum it\’s the other way around”, he explained.

According to Buterin, the second-largest cryptocurrency could serve as a store of value in a direct economic sense due to the activation of EIP-1559 during the London hard fork.

Speaking about the growth of DAO, Buterin outlined retroactive experiments by Gitcoin DAO and Optimism on public goods as examples of projects developing the landscape.

The Ethereum co-founder expressed conviction that DAOs will play a bigger role than today.

“They will definitely become more important. I don\’t think this space has insurmountable barriers. More likely, there are nuances that require refinement. When one DAO changes its strategy or when two DAOs decide to merge? I think we will see it soon,” he said.

During the interview, Buterin was also asked about non-fungible tokens (NFTs).

“NFTs are interesting from a cultural standpoint. They bring into Ethereum people who have a completely different worldview than, for example, the participants DeFi and ordinary crypto users”, he explained.

TIME magazine named him among the the most influential people in 2021.

In September, the Ethereum co-founder proposed moving NFTs issued on Ethereum into a layer-2 solutions ecosystem.

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