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Bitwise CEO: Ethereum's true competitors are Web2 and traditional finance, not Bitcoin

Summary: In a recent statement, Bitwise CEO Hunter Horsley stated that Ethereum is not competing with Bitcoin, but rather its true competitors are Web 2.0 and traditional financial services software. Over the next 6 to 12 months, the crypto market will move beyond the CoinMarketCap era, where each crypto asset is seen as just a different ...

In a recent statement, Bitwise CEO Hunter Horsley stated that Ethereum is not competing with Bitcoin, but rather its true competitors are Web 2.0 and traditional financial services software. Over the next 6 to 12 months, the crypto market will move beyond the CoinMarketCap era, where each crypto asset is seen as just a different market cap with everything else being the same. It will become apparent that the opportunities between different blockchains are diverse, similar to how apps on the iPhone, while having similar underlying technology, vary greatly in their uses and commercial potential.

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