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Ethereum Will Eventually Replace Bitcoin, Says Citadel CEO

The founder and CEO of the multinational hedge fund Citadel LLC, Ken Griffin remains unconvinced of BTC and its use cases. He is of the opinion that another digital asset project like Ethereum will become the most dominant in the virtual asset cosmos.

Notwithstanding its ups and downs throughout the year, BTC has more than doubled its value in the last 11 months. Institutional adoption and noteworthy support from renowned investors and entrepreneurs, some of whom frequently elucidate it as a great store of value, are among the factors that propelled the crypto asset towards its present heights.

Mark Cuban, the billionaire investor and owner of the Dallas Mavericks, also went in favor of ETH recently. As per him, beginners in the digital asset domain should select ETH as an investment option as it has the most upside likelihood.

Griffin also emphasized the surging inflation and financial catastrophe that began trembling the majority of the economies. He felt uncertain that digital assets might solve those monetary concerns, suggesting that a digital dollar could be more advantageous in the initiative.

In one of his earlier appearances last month, Griffin once again hit BTC and the altcoins, asserting that they could impair the American dollar. He further mentioned that it is a “Jihadist call” that some put their trust in virtual currencies instead of the national currency of the United States of America.

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