Ethereum Predicted to 100x: Sharplink Chair Joseph Lubin Explains Why
The chairman of Sharplink, Joseph Lubin, has made a bold prediction about the future of Ethereum, stating that the cryptocurrency could increase in value by 100 times from its current level. This prediction is based on the growing accumulation of companies and institutional interests in Ethereum. 
Lubin emphasizes that traditional financial institutions, including large banks such as JPMorgan, will likely adopt Ethereum as a way to simplify and rationalize their complex infrastructure. He believes that Ethereum can combine and simplify the stacks of internal systems that have been accumulated by years of acquisitions, reducing costs and increasing efficiency.
Traditional Financial Institutions and Ethereum
Lubin’s comments build on the bullish views previously expressed by Bitmine chairman Tom Lee. He agrees with Lee that traditional financial institutions will play a crucial role in the adoption of Ethereum, and that they will need to work with decentralized funds, including the execution of validators, administration of Layer 2 and Layer 3, participation in DeFi, and the use of smart contracts for agreements and financial processes.
“Wall Street will hold on because you are currently paying for your infrastructure, and Ethereum will replace a large part of the many suction stacks on which you work,” Lubin said. He also believes that the solutions from Layer 2 will complement, rather than replace, the basic layer of Ethereum.
Company Accumulation of ETH
Another driver of the bullish outlook for Ethereum is the ongoing accumulation of ETH by companies as a financial asset. Lubin points out that around 71 companies have added a total of 4.44 million ETH to their balance sheets, with a value of approximately $19.7 billion at current prices. The two most significant corporate positions are held by Tom Lee’s Bitmine and Lubin’s Sharplink, with $7.6 billion and $3 billion, respectively.
Both companies have signaled a commitment to long-term accumulation, with Bitmine aiming to hold 5% of the total ETH supply and Sharplink aiming to surpass all other company owners. This accumulation is expected to drive the price of Ethereum up, with Lubin predicting a potential 100-fold increase.
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