In an interview with CNBC, Bill Barhydt (CEO of Abra), shared his views on why he believes that Ethereum is more valuable than Bitcoin. He predicts that the price for ether ( ETH) will reach $40,000, which is a substantial increase over the current cryptocurrency price.
Barhydt explained that ‘Ethereum’s network effect is based upon the idea that it could be the world’s computers. It is being used to create stablecoins, non-fungible tokens (NFTs), defi [decentralized financing] and other purposes.
According to the CEO, staking will bring a large influx of people wanting to own ethereum. He compared the network effects of Ethereum and Bitcoin to make this comment:
Because of the new use cases, the network effects for Ethereum are more bullish in the short-term.
He said, “If the transaction fees and gas fees go down, which is the promise for the proof-of stake, then look out, because all of the obstacles to those network effects have been removed.”
The executive cautioned that there could be a sell-the news effect following the initial rush to stake in June or July. Whenever this happens, the upgrade from proof-of-stake is triggered – so there may be a sell the news pullback.
Barhydt did not mention a time frame.
It is possible to get ethereum for as low as $30,000 to $40,000
He opined: ‘It’s deflationary. The number of use cases is staggering. My opinion is that all the stars are aligned for ethereum right now.
Finder.com’s panel of fintech experts is less bullish on Abra CEO. The panel had predicted that Ethereum would hit $50,788 in 2030. This estimate was lowered to $26,338. Based on data from Bitcoin.com markets, ETH trades at $2,518 as of the writing.