Ethereum founder doesn’t believe that cryptocurrencies will replace regular money

Ethereum co-founder Vitalik Buterin believes that digital assets will never be able to replace fiat money. Buterin told Reuters about this.

«A scenario where cryptocurrencies dominate traditional money is unlikely. I don’t expect digital assets to take over the world,» Buterin said. Many analysts disagree with his opinion, believing in the prospects of cryptocurrencies and saying that fiat money such as the dollar and euro will lose its purchasing power. That is why many investors have focused their attention on alternative assets, including bitcoin (70% of the world’s millionaires own cryptocurrency).

The co-founder of another cryptocurrency, Dogecoin, shares a similar opinion to Vitalik Buterin. Billy Marcus believes that the widespread claim that cryptocurrencies are a hedge against inflation is simply a myth. The creator of memecoin said that virtual assets will not save from problems in the economy and that people mainly trade or hold cryptocurrencies because of their highly volatile nature.