Ethereum is overtaking BTC, and Anthony Scaramucci says bitcoin will benefit from restrictions in China

Celsius Network: Ethereum has already started overtaking BTC

The second most popular cryptocurrency has already begun to overtake Bitcoin. This statement was made by the head of the Celsius Network crypto-lending service Alex Mashinsky.

“We manage about $17 billion in deposits or customer coins, and the number one coin held in dollar terms is Ethereum,” he said.

Mashinsky is confident that ETH will move BTC from the first place in the capitalization rating by next year, or it will happen in 2023. According to the expert, the main driver of the upcoming leadership of Ethereum will be the difference between the main options for using cryptocurrencies. Bitcoin is used as a saving tool, Mashinsky believes, and ETH is used for profitable farming.

Anthony Scaramucci says bitcoin will benefit from restrictions in China

In the long term, bitcoin will only benefit from the ban on the mining of crypto coins in the People’s Republic of China. This was stated by the founder of the investment company SkyBridge Capital Anthony Scaramucci.

“China getting out of the way, I think will be a long term positive for bitcoin,” he said.

Scaramucci pointed out that the restrictive measures of the Chinese government on the crypto industry have made BTC very volatile. In addition, the restrictions became a prerequisite for the fall in the rate of the coin.

Earlier, Mike Novogratz saw a positive trend in the restrictions on bitcoin mining in China. He stated that “the migration of miners from China is good for the ecosystem.”




Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

MUSO — — DEFI perfect mathematical model comes from the Fermat theorem

CryptoRunner: Stake NFTs to get BNB How it works?

What’s it worth, the NFT version

Cryptocurrencies Are Developing A Lot Like Derivatives in the 1990s

Community Program for Private Sale

DuckieLand ,T An BEP 20 Governance Token for The Duckie Land Community, to List on BitMart Exchange

Best Crypto Trading Platform for Dogecoin w/t Lowest Trading Fee

Understanding Cryptographic Algorithms used by Cryptocurrencies

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store


More from Medium

The True Value of Bitcoin

Bitcoin Prices and Adoption Offer Interesting Contrast

Predictions After a “Breakthrough” 2021

Are Retail Investors Degens?

Shiba Inu WOW dogecoin