NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: SOL Strategies: The First Solana Treasury Company Listed On Nasdaq
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: SOL Strategies: The First Solana Treasury Company Listed On Nasdaq

Bitcoin’s Time is Done Says Investment Chief, Citing Dated Technology

Samuel Wan
Samuel Wan
1 year ago
2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Bitcoin is now 12 years old. Although it has managed to fend off all newcomers to date, its time at the top may be coming to an end. That’s according to Fahad Kamal, the Investment Chief at private bank Kleinwort Hambros.

Kamal likens the situation to the tech boom of the late nineties going into the new millennium. Not only was it a time of massive capital inflow, as we see now in crypto, but history shows that many pioneering projects faded as the competition got better. From a technical standpoint, Bitcoin is a dinosaur compared to the latest third-generation blockchains. While nothing matches its network effect at present, is Bitcoin on a downward path?

“The cryptocurrency space today looks very similar to the internet space in 1997. In 1997, we thought Netscape Navigator was by far the most advanced sophisticated browser and there would never be anything to compete with that.”

Bitcoin Under Pressure

With the green plan, it’s difficult to ignore Bitcoin’s massive energy consumption due to its power-hungry Proof-of-Work consensus algorithm.

Over time as its price has gone up, so has its energy consumption. Current estimates put its annual energy consumption at 135 TWh. For comparison, that’s more than the electricity used by Sweden, at 132 TWh.

Kamal sees the energy conundrum Bitcoin faces as a significant factor in its breakdown. There’s also the broadening narrative surrounding its use in illicit activities. While this is an industry-wide problem, and one that is disputed, with data from Chainalysis estimating less than 1% of Bitcoin transactions involved in criminality, that in itself doesn’t matter.

What matters is how governments interpret the data and enact legislation taking into account other agendas. Kamal mentioned the tougher regulations coming in from both Turkey and India.

Ethereum to Take Over Top Spot?

ETH 2.0 will see Ethereum switch from a Proof-of-Work protocol to a more environmentally friendly Proof-of-Stake model. Phase 2, the final phase, is penciled in for a 2022 rollout.

While some expect Bitcoin to follow suit and make significant protocol changes to move with the times, the founder of Bitcoin Suisse, Niklas Nikolajsen, said that as the dominant chain carrying the most value, it’s logical that Bitcoin is the most conservative in terms of changing its formula.

However, Nikolajsen doesn’t rule out a change altogether. He believes new technological advancements in computer science, cryptography, and mathematics could inspire change.

“I believe that it is entirely possible that if one day new consensus algorithms and advancements are proven to possess the right balance of qualities such as a high degree of decentralization, scalability and security, these will in time inspire BTC and its forks.”

Since the start of April, Ethereum is up 40% versus a 7% drop for Bitcoin. Based on current market caps, if there’s one cryptocurrency to displace Bitcoin, it’s Ethereum.

JP Morgan echoes this sentiment. They see Ethereum’s superior utility as a factor in Bitcoin losing out in the long term.

Bitcoin daily chart YTD

Source: BTCUSD on TradingView.com
Tweet123Share196ShareSend
Samuel Wan
Samuel Wan

Samuel Wan

Samuel Wan is passionate about different cultures and eating good food. He has years of experience working in business and finance — a burgeoning interest in Bitcoin and cryptocurrencies since 2017. UK based.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Crypto trading markt update: volatiliteit blijft hoog, groeien de zorgen?

Crypto trading markt update: volatiliteit blijft hoog, groeien de zorgen?

Waar enkele weken geleden de crypto koers relatief rustig bewoog, zien we nu een duidelijke toename in volatiliteit. Zowel Ethereum...

Lars Diederiksen 3 hours ago
Bitcoin

Bitcoin Bull Run Nears Its Climax: Cycle Peak Indicates 95% Completion

Bitcoin (BTC) has recently reached a new weekly high above the $112,000 mark, signaling a potential new uptrend for the...

Ronaldo Marquez 4 hours ago
WLFI

Expert Predicts WLFI Going To $0 Without Sun’s Support, Panic Selling Looms

The launch of the World Liberty Financial platform’s native token, WLFI, was anticipated as a significant event in the cryptocurrency...

Ronaldo Marquez 7 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Crypto trading markt update: volatiliteit blijft hoog, groeien de zorgen?

Crypto Bull Run: Probability Of Fed Rate Cuts In September Almost At 100%

Scott Matherson 1 hour ago
Altcoin

‘Corporate’ Altcoin Season? Expert Shares How Crypto ETFs, Treasuries Could Change The Market

Rubmar Garcia 2 hours ago
Bitcoin

Old Bitcoin Supply Keeps Moving Into ETFs: Data Shows Three Waves So far

Keshav Verma 3 hours ago

Premium Sponsors

Press Releases

  • 50万ドル調達の新興プロジェクトが次の大型ミームコイン候補に浮上

    ...

    11 hours ago
  • イーサリアム売却後に注目される次のアルトコイン投資先4選

    ...

    11 hours ago
  • アルトシーズン前に投資候補となる仮想通貨プレセールの紹介

    ...

    11 hours ago
  • 仮想通貨おすすめ:市場回復期に注目すべき銘柄リスト

    ...

    12 hours ago
  • 今日注目すべき1ドル未満の新しい仮想通貨 ― 9月6日版

    今日注目すべき1ドル未満の新しい仮想通貨...

    12 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.