Vitalik Buterin: are we in a bubble phase for crypto?
The 27-year-old Vitalik Buterin, creator of the Ethereum blockchain, has described the current situation of crypto as a bubble.
Interviewed by CNN Business, in fact, Vitalik stated that in his opinion we are currently in a “crypto bubble” phase and obviously the question is when it will end.
It is not known when the interview took place, it could also be that Vitalik was interviewed days ago and not today. The market until a few days ago was particularly hype, while these days we see BTC, for example, marking double-digit declines.
Vitalik Buterin: crypto from bubble to mass adoption
However, during the interview, Buterin also explained that he believes the cryptocurrency sector is approaching a phase of mass adoption:
“It feels like crypto is close to ready for the mainstream in a way that it wasn’t even four years ago”.
Talking about Elon Musk, Vitalik explained that Tesla’s CEO has only been in the industry for about a year and therefore believes that “it’s reasonable to expect a bit of craziness”.
Furthermore, during the interview they also talk about NFTs, hinting that this phenomenon is on the rise and that Ethereum’s blockchain has been a key player, although Vitalik does not comment on this point.
Finally, in the video, Vitalik explains why he was fascinated by the world of blockchain. These are his words:
“The reason why crypto is so interesting is because it allows large groups of people to cooperate and to do things all on the same platform, but without there being like one individual or one single company or even on single government to kind of in the middle. And, you know, we have basically sort of sleepwalked into a world where Facebook sees all your data, Twitter, you know, can choose who stays on the platform, who goes off. To all of these things, like I think decentralized systems can potentially present an alternative. And so you don’t need to have a kind of one sort of point of control in the middle”.