Ethereum and Consensys co-founder Joe Lubin said that companies using ETH Treasury strategies will play a crucial role in communicating the second largest digital asset of Wall Street, since large financial institutions increase blockchain use and process approximately 24 million transactions daily.
Lubin made the statement during a interview With CNBC on 8 July in response to questions about the rising trend of Ethereum Treasury adoption.
According to Lubin:
“It’s about telling the Ethereum story. What does Wall Street pay attention to? It pays attention to being able to earn money.”
He contrasted the strong story of Bitcoin with the future -oriented positioning of Ethereum and explained that although Bitcoin has a value proposition, people can “understand and lag behind”, Ethereum spent the last decade on building scalable infrastructure in anticipation that internet activity will move to web3.
Lubin described Web3 as the natural decentralization of the web and said that Ethereum is now scalable, affordable and legally usable in the US.
However, he added that regulatory obstacles among former SEC chairman Gary Genler made it unattractive for projects to build and publish tokens, thereby postponing broader adoption of consumers and companies.
‘The biggest splash’
Lubin said that Treasury strategies are on the rise as a solution to tackle the current imbalance of Ethereum. He added that ETH is a strong business model in treasuries and will be crucial for stabilizing market conditions, because more applications have been built on Ethereum.
He pointed to Sharplink -gaming as an example and so far described it as the largest ETH Treasury company, with holdings of more than 200,000 ETH. While other companies such as Bitmain have also adopted similar strategies, Lubin said that Sharplink made ‘the biggest splash’.
According to Lubin:
“Because decentralization is the travel direction for the world. We believe that we will see Ether and Bitcoin rise in the coming years and decades while we are shifting paradigm to more and more decentralization.”
He added that his team acquires tens of millions of dollars in Ethereum every day through several channels and is planning to ‘stay the course’.
Lubin concluded that these Treasury strategies will play a key role in cementing Ethereum’s relevance in traditional financing, since the blockchain is shifting from infrastructure building to mass application.
