Bitwise CEO: Ethereum's true competitor is Web2 and traditional finance, not Bitcoin

BlockBeats News, July 14th, Bitwise CEO Hunter Horsley stated, "Ethereum is not competing with Bitcoin, its real competitors are Web 2.0 and traditional financial services software."

In the next 6 to 12 months, the crypto market will move beyond the "CoinMarketCap era," the kind of era that considers each crypto asset as just a different market cap, everything else being the same.

We will begin to realize that the opportunities between different blockchains are diverse, just like "apps on the iPhone." Even though the underlying technology is similar, the purposes and commercial potential are vastly different."