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Citadel CEO explains why Ethereum will replace Bitcoin, in ‘next generation’ of crypto
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Even with market capitalization crossing well over $1.2 trillion, Bitcoin is not everybody’s favorite cryptocurrency. Kenneth Griffin, the CEO of American hedge fund, Citadel, recently shared his views on why he believes Ethereum will ultimately replace Bitcoin as the king coin.
In a summit hosted by the New York Times, the billionaire said,
“Bitcoin-based conception [will be] replaced by the Ethereum-based conception in the next generation of cryptocurrencies.”
According to him, this is because cryptocurrencies based on the Ethereum network have “the benefits of higher transaction speeds [and] lower cost per transaction.” While Ethereum’s average transaction fee was $6.6 at the time of writing, a transaction on the Bitcoin network costs
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