While Ethereum (ETH) fans are excited about the successful merger, Swan Bitcoin CEO Corey Clipston believes the update will lead Ethereum to a “slow slide into unnecessary drift and eventual death.”
According to Clipston, the Ethereum community chose the wrong time to decouple the protocol from its dependence on energy. Many parts of the world are experiencing severe energy shortages, he believed that the local narrative would take a back seat.
In an exclusive interview with Cointelegraph, Clipston said, “I think the world is waking up to reality and Ethereum has gone to Fantasyland at exactly the wrong time.”
“It’s a very bad time to put out this narrative. It seems silly.”
According to some predictions, institutional capital will increasingly move away from Bitcoin (BTC) and into Ethereum unless Bitcoin moves away from a power-hungry proof-of-concept system.
Clipston dismisses this narrative as false, ultimately noting that all useful technologies must rely on real-world power to function properly.
“If you don’t use the laws of physics and have no connection to the real world, you’re basically creating a metaverse fantasyland.”
Watch the full interview on our YouTube channel and don’t forget to subscribe!