Celsius Network CEO Alex Mashinsky suggested that Ether has already started “flippening” Bitcoin in U.S. dollar terms.
Bitcoin (BTC), the largest cryptocurrency has already started losing its market dominance to Ether (ETH), according to Celsius Network CEO Alex Mashinsky.
In a Monday interview with Kitco News, Mashinsky argued that the Ether “flippening,” or the hypothetical scenario in which Ether overtakes Bitcoin as the world’s most valued cryptocurrency, is already happening right now.
Mashinsky said that the flippening has already happened on Celsius. “We manage about $17 billion in deposits, or in customer coins, and the number one coin held in dollar terms is Ethereum,” he said.
Mashinsky also predicted that Ether will have completely surpassed Bitcoin in market cap by 2022 or 2023.