Ethereum surpassing Bitcoin? Experts say this is a "ridiculous" matter.

Last week, Joseph Lubin – co-founder of Ethereum and CEO of ConsenSys – commented on Twitter about an interview with Tom Lee, the owner of BitMine ( likened to “Ethereum's Strategy” ) currently the largest holder of ETH, with 1.86 million coins.

Lubin predicts that the price of ETH could “increase by 100 times from here”, and Ethereum surpassing Bitcoin could become a reality in the not-so-distant future.

He also emphasized his optimistic viewpoint: “The real issue is that you can't be optimistic enough.” And Lubin is not the only one who holds this belief.

Ethereum is experiencing a booming year in 2025: strong interest from institutions, investors excited about ETFs, staking yields, companies holding ETH reserves, along with the continuous development of DeFi.

Looking at it more broadly, Lubin's argument is that all developers, protocols, startups, and “unicorns” built on Ethereum will create an overwhelming wave of adoption, and it is the network effect that could help ETH surpass BTC.

Of course, Lubin is completely entitled to be excited; after all, he is fighting to assert the importance of the protocol he is pursuing.

However, imagining a world where “Internet money” is replaced by a technology protocol overlooks many obvious realities.

You can almost hear the chuckles from the loyal and steadfast supporters of Bitcoin right now. Ethereum surpassing Bitcoin? Certainly not in the eyes of those loyal and steadfast to BTC.

Ethereum surpass Bitcoin? “Be realistic”

Jack Mallers, CEO of Strike and one of the most staunch advocates for Bitcoin, shared his views on Ethereum surpassing Bitcoin in a widely circulated video.

Mallers did not hesitate to express his opinion. “Let's be realistic,” he said, this idea is completely “ridiculous.” He began by analyzing the scale of the problem that Bitcoin is addressing.

Mallers points out that Bitcoin's goal is to break the monetary system, a market worth between 400 to 500 trillion dollars, representing the total value that humans mine, save, and exchange.

“That is the goal that Bitcoin is aiming for,” he explained in an easily understandable way. Meanwhile, Ethereum does not position itself as a currency.

Instead, Ethereum is designed as a global supercomputer, a “power booster” for stablecoins, and also serves as a platform for smart contracts and NFTs.

Even if Ethereum becomes the “new Apple”, one of the most valuable technology companies in history, Mallers believes it can only be as big as Bitcoin currently is, around three trillion dollars.

However, this figure is still very far from the value that the currency represents in the global financial system. He remarked:

“So you are saying that Ethereum, the world's supercomputer, will be bigger than the stock market? That is really ridiculous.”

Throughout the video, Mallers emphasized the fundamental differences between Bitcoin and Ethereum, asserting that these two cannot be directly compared:

“Having money and having a company are two completely different things.”

Just like Apple surpassing the USD

Ethereum? Certainly, the potential for price increase is very large if this technology truly changes the way the world operates. However, its true value directly depends on the success of the applications and services built on the Ethereum platform.

Unlike Bitcoin, which has a maximum limit of 21 million coins, the supply of Ethereum is not capped, making its long-term value prediction more difficult.

Leadership changes and adjustments to development roadmaps occur continuously, just like any major technology company. Ethereum is a playground for rapid innovation, which also means that some features will quickly become obsolete.

Imagine betting on your retirement fund: would you choose a new operating system for application developers, or a currency protocol that has been operational for 15 consecutive years, with a predictable release schedule and trusted by hundreds of millions of people around the world?

Ethereum surpassing Bitcoin will be like Apple surpassing the USD. As Mallers emphasized at BTC Prague last year:

“There is no second best.”

Dinh Dinh