Nexo founder says it’s too early to write off Bitcoin after the merger

After the launch of the Ethereum (ETH) Merge upgrade, a section of the cryptocurrency market suggested that the digital asset, which ranks second by market capitalization, could mirror Bitcoin (BTC). Amid interest in Ethereum, Bitcoin is recording a sustained price correction.

In this context, Anthony Trenchev, founder of crypto lending platform Nexo, has warned against delisting Bitcoin, arguing that the supply is likely to increase in the long run, he said during an interview with Bloomberg Markets and Finance On the 15th of September.

He acknowledged that the integration upgrade would bring efficiencies to the Ethereum blockchain in what he called a game changer.

“It is definitely a game changer when it comes to software updates. It is the most important thing that has ever happened to Ethereum. On your question about whether Ethereum will ever be bigger than Bitcoin, I have my doubts. I am incredibly bullish on both Bitcoin and Ethereum in my personal wallet. I I carry both on long term.This means for at least 10 years from now. <...> But you know someone has written off Bitcoin, I think it’s too early, Trenchev says.

Bitcoin and Ethereum competition

According to Trenchev, investors should not see Bitcoin and Ethereum as competing platforms, arguing that both assets are beneficial.

He believes that “Bitcoin is closer to gold,” indicating that it is the better version of the precious metal while Ethereum is ideal for decentralized projects.

“Both useful, with the merger and now the transition to energy efficiency, you know, we now have this asset class ready at prime time for large organizations,” he added.

Impact of the merger on Ethereum

He noted that the merger is likely to drive some enthusiasm into the cryptocurrency market and lead to higher prices. Notably, Trenchev has previously suggested that the initial success of the upgrade would be critical for the asset to maintain its rally.

The market had already recorded a lot of activity before the Ethereum merger, with Coinphony reporting that on September 12, the flow of asset exchanges increased from 700,000 ETH to around 1.7 million ETH on September 14.

It’s worth noting that the merge took place in the early hours of September 15, with the asset migrated to the Proof of Stake (PoS) protocol.

See the full interview below:

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The post prematurely delisted Bitcoin after the merger, says Nexo founder says it first appeared on Coinphony.

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