Well, BitSquad, the ETHter Bunny may have come and gone,
and the price of Ethereum is seeing a pullback
along with the entire crypto market.
Still, Ethereum has been newsworthy lately.
And that's what we're going to talk about today.
It's undeniably great tech.
And the price action doesn't affect the fundamentals.
Nothing has changed with the Ethereum project.
The tech is just as good as it was a month ago.
And with the London hardfork testnet coming on June 24,
ETH is only getting better.
You won't want to miss this ETH update.
Let's get it!
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In this video, we take a look at the top news stories for Ethereum.
Lex Fridman is a highly influential long form podcaster,
some people say too long,
who gets down to the nitty-gritty with the big names in crypto, finance, business and science.
On June 16, Lex was on air with Charles Hoskinson in a highly anticipated interview
that covered more than four hours of topics
that spanned everything from Cardano to Bitcoin versus Ethereum.
They even had time to talk about the meaning of life.
Hoskinson talked about Ethereum and how it's poised to overtake Bitcoin
because Ethereum is more friendly to updates than Bitcoin is.
Hoskinson stated that since Bitcoin is such a brand name crypto at this point,
the Bitcoin community isn't open to changes in the network,
even changes that will fix obvious problems.
Hoskinson said that if he were to bet on a winner between Bitcoin and Ethereum,
he would bet on ETH 9 times out of 10.
He said that if you walked away from Ethereum and Bitcoin for 10 years,
you would come back and find that Ethereum would be more useful
and there would be no contest between the two.
Hoskinson went on to talk about crypto assets being in three stages of development.
And the first stage was Bitcoin.
It was built to be one thing, which is a currency,
and he calls it a one-trick pony
but also that its creation was groundbreaking.
Hoskinson says that in 2013,
that was the inflection point where Bitcoin gained a lot of monetary value and legitimacy.
People were thinking this technology is incredible.
They can move $5 million from one country to another in five minutes.
Next, Ethereum came along,
which had a programming language and could add as many applications to the network as we could imagine.
He compares Ethereum versus Bitcoin to the coming of JavaScript after HTML.
Bitcoin was a groundbreaker, the start of it all.
And Ethereum was the innovator that made the technology more useful.
He says about Bitcoin,
just because you were a high school football star,
it doesn't mean 30 years later, you're still a football star.
Wow, Hosky! We're feeling attacked right now.
But moving on back to Ethereum.
Hoskinson believes that Bitcoin is the old institution that is resistant to change.
And that resistance to change is what made Vitalik Buterin
move away from Bitcoin in the first place and start Ethereum.
In Ethereum, Hoskinson sees a community that wants change, upgrades and innovation.
And that's why Hoskinson sees Ethereum winning over Bitcoin hands down.
Michael Saylor also has had some positive things to say about Ethereum in his interview on CNBC's Fast Money.
Famous for being a Bitcoin bull,
Michael Saylor of MicroStrategy rarely talks about other crypto assets besides Bitcoin,
which he says is better than gold.
But on June 15,
when he was telling Fast Money that Bitcoin is outperforming gold
by a factor of 50 as an inflation hedge,
CNBC's Dan Nathan googled the term "Bitcoin maxi",
and he said Michael Saylor's face came up.
Then he asked, "What about Ethereum?"
Saylor replied that Ethereum is trying to dematerialize a finance establishment.
He believes that there's a place for Ethereum.
It's good tech.
Is this really Michael Saylor?
The infamous Bitcoin maxi endorsing Ethereum on a mainstream financial news network?
It's definitely bullish for Ethereum.
The fact that more people are hearing about this is good news for Ethereum as well.
And this week, the good news for ETH is rolling in.
Another thing rolling into Ethereum these days is money,
cold hard institutional cash coming into Ethereum by the millions.
In a June 7 report by CoinShares,
Ethereum is capturing inflows of $33 million.
And it stands out as the altcoin of choice by investors.
The runner ups are no surprise.
XRP at $7 million in inflows and Cardano at $4.5 million.
What do you hear about on this channel about Ethereum during a bull run?
Institutions are buying and they want your ETH.
My stance on Bitcoin and ETH is unchanged.
I'm not selling my Bitcoin or Ethereum.
The CoinShares report is showing that selling Cardano or XRP may not be a good move either.
Or you may want to look at some buy points coming up in the next few days
if we see prices continue to fall.
There's been a crash in the crypto market.
Yes, in fact, there has been plenty.
An outflow of $94 million.
But the massive inflows of money points to only one thing.
New institutional buys and lots of them.
Speaking of institutions,
another news piece to hit the airwaves recently has been Goldman Sachs
introducing Bitcoin futures trading and teasing Ethereum futures trading
with Galaxy Digital as its liquidity provider.
Goldman Sachs,
one of the world's best known banking, securities and investment management firms,
plans to facilitate hedge funds and institutions in trading futures contracts of Bitcoin and Ethereum.
Both Bitcoin and Ethereum ETFs or exchange traded funds
have been applied for with the SEC
indicating that more institutions and hedge funds are seeing Ethereum
as a true mainstay crypto asset that their investors want to trade.
Also in the news this week,
could Ethereum be getting closer than Bitcoin to mass adoption?
In his latest interview with UpOnlyTV,
Raoul Pal, CEO and co-founder of Real Vision and Global Macro Investor,
said that he thinks it is.
Pal sees crypto adoption as inevitable
and shared what he found when he researched investing in Ethereum.
Pal found that ETH was getting faster adoption than Bitcoin
because Bitcoin is growing at about 50% per year and ETH is growing at about 100% per year.
This makes Raoul Pal believe that Ethereum is an incredibly robust network that's undervalued.
We couldn't agree more.
Ethereum is certainly the sleeping giant that we can't wait to see wake back up.
That's a wrap on the news for Ethereum this week.
Comment down below.
Do you think Ethereum will outperform Bitcoin this cycle?
What's your Ethereum price prediction?
And who'd you like hearing more about Ethereum from this week?
Charles Hoskinson, Michael Saylor or Raoul Pal?
Make sure to smash the like button and the subscribe button.
It really helps out the channel.
That's all I got.
Be blessed.
BitBoy out.
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