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Seeking Alpha 2021-10-14 15:58:37

Voyager Digital's Steve Ehrlich sees rising competition to Ethereum, repeats $100K Bitcoin forecast

Steve Ehrlich, co-founder and CEO of Voyager Digital (OTCQX:VYGVF), said Thursday that he has seen rising competition to Ethereum (ETH-USD), with cryptocurrencies like Solana (SOL-USD), Algorand (ALGO-USD), Cardano (ADA-USD) and Avalanche all taking market share. Speaking to CNBC, Ehrlich also repeated his prediction that Bitcoin (BTC-USD) would reach $100K before the end of the year. On the Ethereum competitors, the Voyager Digital CEO reported that users are looking for a cheaper, more efficient base to use for projects like NFTs. Commenting on the progress Bitcoin ETFs have made towards getting regulatory ratification, Ehrlich argued that the eventual approval of a Bitcoin futures ETF will provide a clear indication that the asset class is gaining more mainstream acceptance. Ehrlich predicted that the futures ETF will represent a step toward sanctioning an ETF based on the Bitcoin spot price. "We're excited about having a Bitcoin ETF even though its on the futures side,

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