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Joseph Lubin: Ethereum to Overtake Bitcoin as Financial Backbone

Key Takeaways

  • ​Joseph Lubin predicts Ethereum could rise 100 times as Wall Street shifts to decentralized systems;
  • He says financial firms will use Ethereum infrastructure for core operations like staking and DeFi;
  • Lubin agrees that Ethereum may surpass Bitcoin in value and eventually become a key financial commodity.

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Joseph Lubin: Ethereum to Overtake Bitcoin as Financial Backbone

Joseph Lubin, founder of Consensys, has shared that Ethereum ETH $4,346.66 could see a hundredfold rise in value as financial institutions start building directly on the network.

He stated in an August 30 post on X that Wall Street firms will eventually run core operations through decentralized infrastructure, and that shift could change the demand for ETH.

According to Lubin, these institutions rely on isolated and expensive systems to manage financial processes. He argued that Ethereum can streamline this by replacing many of those separate systems.

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He stated that traditional firms will move from being centralized financial players to ones that operate on blockchain-based systems. This includes becoming a validator, staking ETH, joining layer-2 networks, developing smart contracts, and participating in decentralized finance.

In other words, Ethereum would not only be held on balance sheets, but it would also become part of the financial infrastructure itself.

Lubin also pointed to comments made by Tom Lee of Fundstrat Global Advisors, who predicted that Ethereum could surpass Bitcoin BTC $109,152.69 in terms of network value. Lubin stated that he is "100% aligned" and even claimed Lee was being too conservative.

He wrote that Ethereum would surpass Bitcoin’s monetary base and eventually outperform other commodities.

Recently, Bitcoin adviser Luke Broyles shared his views on what would happen if Bitcoin's price were to climb into the millions. What did he say? Read the full story.

Aaron S. Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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