Guys, here comes the big news! Hunter Horsley, the CEO of crypto asset management giant Bitwise, recently made it clear: Ethereum's (ETH) biggest competitor in the future is not Bitcoin, but the traditional big banks and financial companies we use today, as well as tech giants like Google and Amazon!
What does this mean? To put it simply:
The target has changed: Previously, people often debated 'which is better, ETH or BTC', but now the big shots have pointed out: ETH has a higher vision! What it truly wants to disrupt is the entire traditional financial system (bank transfers, stocks, bonds) and the monopolized services of internet giants (cloud storage, payments) that we currently use.
Competing for territory:
Bank transfers? Too slow and too expensive! ETH's technology (especially those faster 'layer 2 networks,' like Arbitrum, Optimism) processes transactions quickly and cheaply. Just think, how would it be if the transaction fees for remittances changed from hundreds to almost zero? The business that banks rely on would be in danger!
Corporate finance? Higher returns! Many big companies currently invest in government bonds and similar, which have low yields. But ETH has a 'staking' feature that offers annual returns significantly higher than government bonds (e.g., 4-5% vs 2-3%). Giants like BlackRock are already considering letting clients' money earn from ETH! When corporate finance sees they can make more money, why not give it a try?
Cloud services? Safer and cheaper? Now websites and app data are stored on Amazon Cloud and Google Cloud, and they charge quite a bit. But decentralized storage like Filecoin, based on blockchain, could be cheaper, more resistant to censorship, and safer. They are already starting to grab business!
Big institutions are secretly taking action:
BlackRock has been found to have transferred ETH worth billions of dollars, possibly preparing for large-scale 'staking.'
Credit card giant Visa is testing ETH technology for cross-border payments, aiming to reduce transaction fees to almost zero!
Manufacturing giants like Toyota are now adopting ETH ecosystem-based technology (Chainlink) to track parts, saving huge audit costs.
Why is this news so explosive?
The scope has broadened! This directly elevates the battlefield of ETH from 'infighting in the crypto circle' to the height of 'challenging the entire old world financial and technological hegemony.' The imagination space is vast!
Money is moving! The big shots dare to say this because they see real money flow. Institutional funds are running from traditional bonds and bank wealth management into ETH-related earning and settlement businesses. Reports say billions of dollars are flowing in every week!
Is regulation about to greenlight? The U.S. SEC is about to make a final decision on whether to approve the Ethereum ETF (which would allow ordinary people to buy ETH as conveniently as buying stocks) from late July to early August. BlackRock's application specifically states the intention to use ETH in the ETF for 'staking'! Once approved, it will become easier and faster for traditional financial money to flow into ETH, directly impacting banks and government bonds!
What impact does this have on ordinary people?
Opportunity: If ETH can succeed in taking on banks and giants, its own value and demand for use might greatly increase. This could be a new logic for being optimistic about ETH in the long term.
Change: In the future, you might enjoy faster and cheaper cross-border transfers (using ETH technology); companies might lower costs by using blockchain technology, making products cheaper? Or you might earn higher returns than bank interest by 'staking ETH.'
Focus: Next, pay close attention to the final approval results for the Ethereum ETF (end of July - early August) and the actual progress of traditional giants like BlackRock and Visa using ETH technology. These are all major news points!
Iron Eagle's plain summary:
The words of Bitwise's leader are like breaking through a window paper—Ethereum doesn't want to just be 'digital gold 2.0,' it wants to become a new generation of financial infrastructure and the underlying internet, directly challenging the banks, Wall Street, and tech giants! Money is already in motion, big institutions are laying plans, and regulation may soon be relaxed. This is far more stimulating than simply speculating on coin prices; this is about truly changing the world! Guys, pay close attention to ETH's upcoming moves, especially the ETF approval, which could be the opening bell for a grand drama!
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$SOL