Is Post-Merge Ethereum PoS a Threat to Bitcoin Dominance?

Cory Klippsten, CEO of Swan Bitcoin, shares his views on how the "competition for liquidity" between Bitcoin and Ethereum is shaping up will take place after the latter's transition to a proof-of-stake system.

As Ethereum (ETH) fans are excited about the merger's success, Swan Bitcoin CEO Cory Klippsten believes the upgrade will lead Ethereum into a "slow slide into irrelevance and eventual death".

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According to Klippsten, the Ethereum community picked the wrong time to detach the protocol from its energy dependency. With many parts of the world experiencing severe energy shortages, he believes the environmental narrative is taking a back seat.

In an exclusive interview with Cointelegraph, Klippsten said, "I think the world is waking up to reality and Ethereum has flown to Fantasyland at the wrong time."

"It's just a really bad time to unfold this narrative. It just looks stupid."

There are predictions that institutional capital will increasingly turn away from Bitcoin (BTC) and flock to Ethereum unless Bitcoin moves away from the energy-intensive proof-of-work system.

Klippsten dismisses this narrative as false, citing that ultimately all valuable technology must rely on real-world energy to function properly.

"If you're not connected to the real world using the laws of physics, you're creating a sort of fantasyland metaverse".

Watch the full interview on our YouTube channel and...