In a recent social media post, Consensys CEO Joseph Lubin has predicted that the price of Ethereum (ETH) will increase by 100 times from where it is trading.
Lubin added that even that uber-bullish prediction is apparently not bullish enough.
On top of that, he is convinced that Ethereum (ETH) will end up flipping the Bitcoin (BTC) monetary base.
Tom Lee is not bullish enough
Ethereum's momentum has been revived by Lubin taking a page out of the playbook of Strategy co-founder Michael Saylor by becoming the chairman of SharpLink Gaming, a gaming affiliate marketing firm that has pivoted to being an Ethereum treasury company with the help of Consensys and Lubin.
As reported by U.Today, SharpLink quickly managed to surpass the Ethereum Foundation as the leading corporate holder of ETH. However, its number one position was very short-lived, with Tom Lee's BitMine overtaking it in virtually no time.
According to CoinGecko data, BitMine remains the top corporate ETH holder with a total of 1,713,899 ETH ($7.6 billion at current prices). SharpLink comes in a distant second place with $3.5 billion.
Lubin claims that he is friends with Lee, adding that the Fundstrat analyst is, in fact, not bullish enough.
Lee previously predicted that the price of ETH could reach $60,000 in five years.
Why Wall Street will stake ETH
Lubin is convinced that Wall Street institutions will end up staking ETH because Ethereum will replace siloed stacks with decentralized infrastructure.
The Consensys head believes that ETH will become a core part of mainstream finance.
In order to operate on decentralized rails, these companies would need to stake ETH, run validators and operate L2s as well as L3s.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team