Co-founder and managing partner of Kenetic, Jehan Chu, in an interview on Bloomberg, spoke about the crypto market, and Bitcoin (BTC) and Ethereum (ETH) in particular.
First covering a few reasons as to why Bitcoin would hit an ambitious mark of $30,000 by the year’s end, Chu then goes on to talk about why second in market cap Ethereum (ETH) was also on track for a great surge in price.
Chu was very bullish with his remarks on Ethereum. When asked about what other coins he was looking at, he said,
From a utility standpoint, we’re seeing Ethereum as the lead, the rate of adoption and the rate of development that the Ethereum team are providing decentralized global computer is just astounding. People keep saying that Ethereum is going away, but it is not going away.
Ethereum has been seeing acceptance from some established entities, including Microsoft and Amazon. The former has released a developer kit on Azure for millions of Ethereum developers, which brings significant exposure to the project. Amazon’s subsidiary Whole Foods, meanwhile, has said that it will accept both Bitcoin (BTC) and Ethereum (ETH) for retail payments.
Vitalik Buterin has also said that the research needed for Ethereum 2.0 has been in place for some time, after the Ethereum Foundation budgeted $30 million for Ethereum-related initiatives.