Too Much Emphasis on Bitcoin ETF, Says Ethereum’s Founder

3 min read

Ethereum founder, Vitalik Buterin, believes that the community should be eyeing more at how to make the crypto sector more accessible and easy to use.

Vitalik Buterin, the founder of the world’s second largest cryptocurrency by market capitalization, has expressed his disappointment on Twitter about the direction the crypto sector follows. “I think there’s too much emphasis on BTC/ETH/whatever ETFs, and not enough emphasis on making it easier for people to buy $5 to $100 in cryptocurrency via cards at corner stores,” he tweeted.

The former is better for pumping price,” he went on stating, “but the latter is much better for actual adoption.”

Several experts have characterized the Winklevoss twins’ Bitcoin ETF as one of the latest promising inventions behind the most famous cryptocurrency. Speculations, however, seem to be blocked in spite the fact that the regulator body rejected the brothers’ request.

Instead, it is likely that CBOE‘s ETF will be accepted by the Securities and Exchange Commission on 10 August. Once the application receives official approval, it is assumed that the BTC price will increase considerably, but even in this case, the opinions are divided.

Other participants of the crypto community say that the short-term increases in the price of both Bitcoin (BTC) and altcoins negatively influence the evolution of the crypto market mainly due to the idea of high volatility of assets that will divide the community at least into two categories: who risk investing and those who do not.

https://twitter.com/iamjosephyoung/status/1023432299990331392

On the other hand, from Buterin’s tweet, we can understand that a general-scale adoption could help to improve the stability of cryptocurrency for an indefinite period and not just technical details.

We could argue with Ethereum‘s founder, saying there are many applications and services that users can choose to buy cryptocurrencies by using credit cards and fiat currencies. Even so, it seems that these have not become mainstream nor caused a large-scale adoption of the virtual currency.

Author: Adriana Midrigan

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