Ethereum and the co-founder of Consensys, Joe Lubin, said that companies adopting ETH cash strategies will play an essential role in the communication of the second digital asset value for Wall Street, while the main financial institutions increase the use and treatment of blockchain daily around 24 million transactions.
Lubin made the statement during an CNBC interview on July 8 in response to questions on the upward trend in the adoption of the Ethereum Treasury.
According to Lubin:
“It’s about telling the story of Ethereum. What does Wall Street be careful? It is careful to be able to earn money. ”
He contrasted Bitcoin’s solid story with the smoked positioning of Ethereum, explaining that if Bitcoin has a value proposition, people “can understand and late”, Ethereum has spent the last decade creating an evolutionary infrastructure in anticipation that Internet activity will move to the web3.
Lubin described Web3 as the natural decentralization of the web and said that Ethereum is now evolving, affordable and legally usable in the United States.
However, he added that the regulatory obstacles under the former president of the SEC, Gary Gensler, did not make it attractive that projects build and emit tokens, delaying a broader adoption of consumers and businesses.
“ The greatest splash ”
Lubin said that cash strategies are emerging as a solution to tackle the current imbalance in Ethereum’s offer. He added that ETH holding in treasury bills is a solid business model and will be essential to stabilize market conditions because more applications are built on Ethereum.
He underlined Sharplink Gaming as an example, describing him as the largest company in the Treasury of ETH so far, with assets exceeding 200,000 ETH. While other companies like Bitmain have also adopted similar strategies, Lubin said that Sharplink had done “the biggest splash”.
According to Lubin:
“Because decentralization is the direction of the world trip. We believe that we are going to see Ether and Bitcoin continue to increase in the coming years and decades when we paradigms to move to an increasingly decentralization. ”
He added that his team acquires tens of millions of dollars in Ethereum on several channels daily and plans to “keep the course”.
Lubin concluded that these cash strategies will play a key role in the relevance of Ethereum in traditional finance while blockchain goes from the construction of infrastructure to the deployment of mass applications.
