‘Ethereum could flip Bitcoin’ like Wall Street flipped gold: Tom Lee
BitMine’s Tom Lee says that Ethereum will eventually flip Bitcoin’s market cap, despite being almost five times smaller currently.
Ethereum could eventually surpass Bitcoin’s market share in a similar manner to how US equities overtook gold 54 years ago, when the US abandoned the gold standard, according to BitMEX chair Tom Lee.
“Ethereum could flip Bitcoin similar to how Wall Street and equities flipped gold post 71,” Lee said in an interview with ARK Invest CEO Cathie Wood on Thursday.
Bitcoin’s (BTC) market capitalization is about 4.6 times larger than Ethereum’s, standing at roughly $2.17 trillion compared to $476.33 billion, according to CoinMarketCap.
