This Is Hilarious: Bitcoin Denier Steve Hanke Is Into Ethereum Now
13 Novembro 2021 - 6:21AM
NEWSBTC
Did Steve Hanke find a way out of the hole he’s been digging
himself into for all these years? The economist holds the world
record for the person with the highest number of terrible Bitcoin
takes, with almost 13 years of failed predictions. And now, out of
nowhere, he seems to like the world’s second cryptocurrency by
market capitalization. What does he like about Ethereum, though?
The “560% price surge this year,” of course. But there’s
more… Ethereum is giving Bitcoin a run for its money.
Ethereum has become increasingly popular amongst DeFi and NFTs,
resulting in a 560% price surge this year. Has the look of a
bubble. But, is it?https://t.co/2fkvuNoRWz — Steve Hanke
(@steve_hanke) November 12, 2021 Wait… is Steve Hanke into NFTs?
The man said, “Ethereum has become increasingly popular amongst
DeFi and NFTs” without a hint of irony. He also said, “Ethereum is
giving Bitcoin a run for its money,” which is the most positive
thing Steve Hanke has said about Bitcoin in over a decade. And, in
the end there, he leaves space for possible deniability, “Has the
look of a bubble. But, is it?” The economist also links to an
extremely basic and clumsy CNN article. Is Steve Hanke warming up
to cryptocurrencies? Or is there some other dynamic at play here?
The Article Steve Hanke Linked To This run-of-the-mill article
doesn’t really say much. Its main message is the price action
anyone reading NewsBTC is probably already familiar with.
“Ethereum, or ether for short, is also trading at record levels.
It’s now hovering around $4,850, having soared more than 560% this
year, compared to the “mere” 135% pop for bitcoin. Crypto investors
are betting that ether will continue to be used as the backbone for
even more non-fungible tokens, or NFTs, as well as so-called smart
contracts.” Ok, what else do you got for us? Not much. It’s all
over the place. It breaks down the total cryptocurrency market
capitalization, introduces the concept of the mythical
“flippening,” and tries to keep people away from meme coins. To
accomplish this, CNN quotes Paxfull’s Ray Youssef saying, “Ether
and bitcoin versus meme coins are like the difference between blue
chips and penny stocks you get a call about from a guy in a boiler
room.” The article also talks about inflation, how could it not?,
and introduces ETFs into the picture. “The rise of bitcoin ETFs
also could be good news for ethereum, because experts predict that
similar ether ETFs could soon launch. That will make it even easier
for average investors and big money management firms to buy into
the crypto.” So, all in all, it doesn’t say much and the only clear
fact it presents is that Ethereum had a better year than Bitcoin.
Why did Steve Hanke link to it, then? ETH price chart for
11/13/2021 on Bitfinex | Source: ETH/USD on TradingView.com Is
Hanke Trying To Find A Lifeboat? Here at NewsBTC, we constantly
argue with Steve Hanke. Just in the last year, we responded to him
calling Bitcoin not legitimate, not a currency, and the concept of
it being legal tender “stupid.” And now, Hanke seems to like
Ethereum. Why? Is it because Ethereum’s internal policies are more
akin to the traditional banking system he’s accustomed to? Or did
Hanke realize that cryptocurrencies are here to stay and is too
afraid to admit he was wrong about Bitcoin for all these years? In
any case, the main reaction in his replies so far is mockery. Even
notorious Ethereum defender Udi Wertheimer said, “this is the most
bearish ethereum signal i’ve seen in my entire life.” Let’s keep an
eye on Hanke’s Twitter feed and see what the economist says about
Ethereum in the next few days. This is going to be interesting.
Featured Image: RobinHiggins at Pixabay | Charts by TradingView
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