Bitwise, a crypto asset manager, describes Ethereum (
ETH
) as an unstoppable force that is significantly enhancing the efficiency of the traditional financial system.
With over $2 billion in assets under management through its BITB Bitcoin (
BTC
) exchange-traded fund (ETF) as of March, Bitwise explains that Ethereum outperforms TradFi in wire transfers, international withdrawals, and transactions.
“Ethereum drastically reduces transaction costs. It is at least 10 times more cost-effective than traditional financial systems. Historically, technology that offers a 10x improvement is unstoppable,” Bitwise states.
Bitwise also highlights Ethereum’s revenues, comparing them to those of major public companies such as Robinhood, Etsy, and Moderna.
“The revenues generated by crypto applications on Ethereum are comparable to those of select public companies. These applications showcase the resilience, creativity, and foresight of the global crypto industry, emphasizing that crypto is becoming an integral part of everyday life.”
In a recent memo, Bitwise’s CEO, Matt Hougan, discusses how the crypto industry has gained significant political influence, including one of the top political action committees in Washington, D.C.
Hougan believes that if the general public fully grasped the importance of the recent political developments in Washington, crypto markets would be at an all-time high.
“While the crypto industry is buzzing with excitement, the general public remains indifferent. Despite my efforts to convey the significance of recent events, people seem disinterested. However, the shift in D.C. is undeniable, signaling a potential surge in the crypto market in the near future.”
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Disclaimer: The opinions expressed on The Daily Hodl are not financial advice. Investors should conduct thorough research before engaging in high-risk investments involving Bitcoin, cryptocurrency, or digital assets. All transfers and trades are done at your own risk, with any resulting losses being your responsibility. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets, and is not an investment advisor. Please be aware that The Daily Hodl participates in affiliate marketing.
