Joe Lubin, co-founder of Ethereum and Consensys, said companies adopting the ETH financial strategy will play a key role in conveying the value of their second-largest digital assets to Wall Street.
Lubin issued a statement in an interview with CNBC on July 8th in response to questions about the growing trend in Ethereum Treasury recruitment.
According to Lubin:
“It’s about telling the story of Ethereum. What does Wall Street pay attention to? It pays attention to how it can make money.”
He contrasts the strong story of Bitcoin with positioning focusing on Ethereum’s future, and while Bitcoin has a value proposition that people can “understand and delay” for people, Ethereum has built a scalable infrastructure in the hopes of shifting Internet activity to Web3.
Lubin described Web3 as the natural decentralization of the Web, saying that Ethereum is currently legally available in the US, with scalable, affordable and legally available.
However, he added that the regulatory hurdles under former SEC chair Gary Gensler made the project attractive and appealing to construct and issue tokens and delaying the adoption of a wider range of consumers and businesses.
“The biggest splash”
Lubin said financial strategies have emerged as a solution to address the current imbalance in supply and demand for Ethereum. He added that keeping the Treasury ETH is a strong business model and is important to stabilize the market situation as more applications are built on Ethereum.
He points out Sharplink Gaming as an example, describing it as the largest ETH financing company to date, with its holdings exceeding 200,000 ETH. Other companies like Bitmain have adopted similar strategies, but Lubin said Sharplink has done the “big splash.”
According to Lubin:
“Because decentralization is the direction of global travel. We believe that ether and bitcoin will continue to rise over the next decades as the paradigm moves more and more into decentralization.”
He added that his team has earned tens of millions of dollars of Ethereum daily through multiple channels and is planning to “stay on the course.”
Lubin concluded that these financial strategies will play a key role in solidifying the relevance of Ethereum in traditional finance as blockchain moves from infrastructure building to large-scale application deployments.
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