Galaxy Digital: Bitcoin and ether to double in value by mid-2023

The management of cryptocurrency company Galaxy Digital is confident that ethereum will outperform bitcoin in the future due to the growing interest of corporate investors in smart contracts.

In an interview with Kitco News, Jason Urban, co-chairman of Galaxy’s board of directors, said that bitcoin and ether are moving forward steadily and could grow in value by 100% in the second quarter of 2023.

«If you would have asked me at the beginning of the year, I would have said that I saw bitcoin in the $ 100,000 range and ether in the $ 6,500 to $ 7,000 range. Do I think that cryptocurrencies will face resistance before that? Potentially, yes. Do I think it will matter? No! If not the end of the year, then the first quarter of the next year or the second quarter. It will happen. I see a large number of investors entering this market. Thanks to them, the market will continue to move up,» Urban says.

The Galaxy Digital board member believes that due to its functionality, airtime will eventually overtake bitcoin: «At some point, bitcoin will be left behind. But is it inevitable? No. Do I think this is what we will see in the next two or three years? I could be wrong, but I don’t think it will happen anytime soon.»

Institutional interest in ethereum is growing as more and more large investors realize the benefits of smart contracts, the businessman believes: «They are beginning to realize the power of smart contracts and the first-level blockchain, which can be used to create many brilliant solutions, and ethereum is what you need for such ideas. Ether is copper, and bitcoin is digital gold,» emphasized the head of Galaxy Digital.